Silver falls by Rs 134 on profit-booking, global cues

Silver prices dropped by Rs 134 per kg to Rs 40,065 per kg in futures trade today as speculators locked-in gains at prevailing levels amid a weak trend in global markets.

Silver for delivery in July was trading lower by Rs 134, or 0.33%, at Rs 40,065 per kg, in a business turnover of 1,043 lots at the Multi Commodity Exchange.

Similarly, the metal for delivery in September declined by Rs 116, or 0.28%, to Rs 40,797 per kg, in a business of 162 lots.

In the international market, silver shed 0.27% to USD 16.49 an ounce in Singapore.

Analysts attributed the fall in silver in futures trade to profit-booking and a weak trajectory in global markets.