1. Silver futures succumb to profit-booking

Silver futures succumb to profit-booking

Silver prices went down by Rs 84 per kg to Rs 38,515 per kg in futures trade today as speculators locked-in gains at prevailing levels. However, a firm trend in global market restricted the gains.

By: | Published: June 30, 2017 11:52 AM
In the international market, silver rose 0.35 per cent to USD 16.68 an ounce in Singapore. (Image: Reuters)

Silver prices went down by Rs 84 per kg to Rs 38,515 per kg in futures trade today as speculators locked-in gains at prevailing levels. However, a firm trend in global market restricted the gains. In futures trading, silver for delivery in July was trading lower by Rs 84, or 0.22 per cent, at Rs 38,515 per kg, in a business turnover of 634 lots at the Multi Commodity Exchange.

Similarly, the metal for delivery in September declined by Rs 71, or 0.18 per cent, to Rs 38,942 per kg, in a business volume of 556 lots. In the international market, silver rose 0.35 per cent to USD 16.68 an ounce in Singapore.

Analysts attributed the fall in silver in futures trade to profit-booking as participants cut down positions at existing levels.

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