Silver down Rs 307 per kg on weak global cues

Silver prices were down by Rs 307 to Rs 35,784 per kg in futures trade today, tracking a weak trend overseas coupled with profit-booking by speculators.

In futures trading, silver for delivery in September lost Rs 307 or 0.85 per cent to trade at Rs 35,784 per kg in a business turnover of 1,075 lots.

Similarly, the white metal for delivery in December declined by Rs 298 or 0.81 per cent to Rs 36,553 per kg in a business volume of 32 lots.

In Singapore, silver traded 0.74 per cent lower at USD 15.42 an ounce.

Market analysts said apart from profit-booking by participants, a weak trend in precious metals in the Asian region led to the fall in silver prices in futures trade here.