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Silver futures decline 0.28 pc on global cues, profit-booking

Press Trust of India  |  New Delhi 

Silver prices fell Rs 112 to Rs 40,407 per kg in futures trade today as speculators trimmed their positions amid a weakening trend overseas.

Silver for delivery in September traded lower by Rs 112, or 0.28 per cent, to Rs 40,407 per kg in a business turnover of 12 lots in futures trading at the (MCX).

On similar lines, the for delivery in far-month July fell Rs 109, or 0.27 per cent, to Rs 39,843 per kg in a business turnover of 564 lots.

In international market, silver traded 1.52 per cent lower at USD 16.24 an ounce in yesterday.

Market analysts said a weak trend in precious metals in global markets and trimming of positions by speculators at prevailing levels to book profits kept pressure on silver futures.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 11:10 IST