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

NEW DELHI, May 16: 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 Multi Commodity Exchange (MCX).
On similar lines, the white metal 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 New York 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. (PTI)


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