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Silver futures drop Rs 119 on global cues

Silver futures drop Rs 119 on global cues

New Delhi:  Silver prices declined by Rs 119 to Rs 36,430 per kg in futures trade today as speculators booked profits amid a weak trend in global markets.

At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 119, or 0.33 per cent, to Rs 36,430 per kg in a business turnover of 10 lots.

Similarly, the white metal prices for May contracts declined by Rs 91, or 0.25 per cent, to Rs 35,881 per kg in a business volume of 619 lots.

In the international market, silver prices fell by 0.9 per cent to USD 15.76 an ounce in Singapore after dropping earlier to USD 15.73, the lowest level since January 5.

Market analysts said apart from profit-booking by participants, a weak trend in global markets led to the fall in silver prices at futures trade here.

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