Silver futures down 0.2% on profit-booking

Firm overseas trend limits losses

Amid profit-booking by speculators at prevailing attractive levels, silver prices moved down marginally by 0.19% to Rs 62,539 per kg in futures trade today.

However, a firm trend in the global markets restricted the losses.

At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 117, or 0.19%, to Rs 62,539 per kg, with a business turnover of 1,329 lots.

The March contract declined by Rs 109, or 0.16%, to Rs 64,230 per kg in 111 lots.

Marketmen said speculators offloaded positions in line with a weak global trend that kept pressure on silver prices at futures trade but a firm trend overseas limited the losses.

 

Globally, silver rose 0.29% to $34.09 an ounce in Singapore.