Silver futures down on weak global trend, profit-booking

Silver prices fell by 0.77% to Rs 56,835 per kg in futures trade today amid weak trend in overseas markets and profit-booking by speculators.

At the MCX, silver for delivery in September fell by Rs 339, or 0.77%, to Rs 56,835 per kg in business turnover of 169 lots.

The July contract declined by Rs 426, or 0.76%, to Rs 55,370 per kg in 3,081 lots.

Analysts said besides, weak trend in overseas markets, profit-booking by speculators at current levels mainly led to a fall in silver prices at futures trade.

Meanwhile, silver fell by 0.80% to $29.85 an ounce in Singapore.