Silver down on profit-booking

Weak overseas trend also pulled prices down

Silver futures prices today fell by Rs 448, or 0.85%, to Rs 52,505 per kg as speculators booked profits amid a weak trend overseas.

At the MCX, silver for delivery in July was trading Rs 448, or 0.85%, lower at Rs 52,505 per kg, with a turnover of 2,685 lots.

The September contract dropped by Rs 441, or 0.81%, to Rs 53,819 per kg, with a business turnover of 384 lots.

Analysts said besides profit-booking by speculators at current levels, a weak trend overseas put pressure on the silver futures prices here.

Meanwhile, silver fell by 0.07% to $26.85 an ounce in Singapore today.