Silver futures drops by 0.3% on global cues

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%, 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%, to Rs 35,881 per kg in a business volume of 619 lots.

In the international market, silver prices fell by 0.9% to $15.76 an ounce in Singapore after dropping earlier to $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.