Silver futures down 0.25%, hurt by weak global cues

Taking weak cues from overseas markets, silver prices fell by 0.25 per cent to Rs 47,557 per kg in futures trading today, as participants cut down their bets.

Also, profit-booking at prevailing levels by speculators weighed on silver prices.

At the Multi Commodity Exchange, silver for delivery in September dropped by Rs 120, or 0.25 per cent, to Rs 47,557 per kg, in a business turnover of 184 lots.

Similarly, the white metal for delivery in far-month December traded lower by Rs 98, or 0.20 per cent, to Rs 48,740 per kg in five lots.

Traders said offloading of positions by participants, tracking a weak trend in global market, mainly led to the fall in silver prices at futures trade.
 

Globally, silver shed 0.32 per cent to USD 20.31 an ounce in Singapore.