Silver tumbles Rs 214 on profit-booking, global cues

Silver prices dropped by Rs 214 per kg to Rs 37,021 per kg in futures trade today as speculators trimmed their holdings amid a weak trend in global markets.
In futures trading, silver for delivery in far-month December was trading lower by Rs 214, or 0.57 per cent, at Rs 37,021 per kg, in a business turnover of 13 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in September declined by Rs 200, or 0.55 per cent, to Rs 36,390 per kg, in a business of 605 lots.
In the international market, silver slumped 0.32 per cent to USD 15.62 an ounce in Singapore.

Analysts attributed the fall in silver in futures trade to a weak trajectory in global markets as the dollar strengthened against a basket of major currencies and global stocks gained on upbeat data, eroding demand for a safe haven.