Silver futures fall Rs 119 per kg

Silver prices were down by Rs 119 to Rs 37,314 per kg in futures trade Tuesday as speculators cut holdings, tracking a weak trend overseas.

Silver for delivery in December was trading lower by Rs 119, or 0.32 per cent, at Rs 37,314 per kg in a business turnover of 764 lots in futures trading at the Multi Commodity Exchange (MCX).

Similarly, the contract for delivery in March next year fell by Rs 99, or 0.26 per cent, to trade at Rs 38,114 per kg in business turnover of just one lot.

In the international market, silver fell 0.32 per cent at USD 14.12 an ounce in Singapore Tuesday.

Market analysts said, trimming of positions by participants to book profits amid muted global cues as the dollar rose after the US imposed a new round of tariffs on Chinese imports, aggravating global trade worries, mainly led to a fall in silver prices in futures trade here.