Silver futures down 0.28% on profit-booking, global cues

Appeal for metal as alternative investment declines abroad on news of positive US economic data

Silver prices declined 0.33 per cent to Rs 45,031 per kg in futures trade today as speculators booked profits amid a weak trend in the global markets.

At the Multi Commodity Exchange, silver prices for delivery in far-month December traded lower by Rs 148, or 0.33 per cent, to Rs 45,031 per kg in business turnover of four lots.

September silver declined by Rs 140, or 0.31 per cent, to Rs 44,340 per kg in business volume of four lots.

In the international market, silver prices traded 0.20 per cent lower at $20.57 an ounce in Singapore.

Market analysts said besides profit-booking by participants, a weak trend in global markets as positive US economic data strengthened the case for higher borrowing costs in the world's largest economy and reduced the appeal for an alternative investment, put pressure on silver prices at futures trade here.