1. Silver tumbles Rs 139 on weak global cues

Silver tumbles Rs 139 on weak global cues

Taking weak cues from overseas markets, silver prices dropped by Rs 139 to Rs 48,490 per kg in futures trade today as participants cut down their bets.

By: | New Delhi | Published: September 7, 2016 11:55 AM
Profit-booking at prevailing levels by speculators weighed on silver prices. (Reuters) Profit-booking at prevailing levels by speculators weighed on silver prices. (Reuters)

Taking weak cues from overseas markets, silver prices dropped by Rs 139 to Rs 48,490 per kg in futures trade today as participants cut down their bets.

Moreover, profit-booking at prevailing levels by speculators weighed on silver prices.

At the Multi Commodity Exchange, silver for delivery in March next year was trading lower by Rs 139 or 0.29 per cent to Rs 48,490 per kg in a business turnover of 8 lots.

Similarly, the white metal for delivery in December declined by Rs 120 or 0.25 per cent to Rs 47,487 per kg in a business volume of 434 lots.

In the international market, silver fell 0.32 per cent to USD 19.97 an ounce in Singapore today.

Traders attributed the fall in silver prices at futures trade to a weak trend in global markets and profit-booking by speculators.

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