Silver weakens in futures trade, down Rs 44

Silver prices fell by Rs 44 to Rs 38,895 per kg in futures trade today as speculators cut down their bets to book profits coupled with weak global cues.

Silver for delivery in September was down by Rs 44 or 0.11 per cent to Rs 38,895 per kg in futures trade at the Multi Commodity Exchange. It clocked a business volume of 484 lots.

The white metal for delivery in far-month December fell by Rs 43, or 0.11 per cent to trade at Rs 39,530 per kg in a business turnover of 8 lots.

Market analysts said profit-booking at prevailing levels and fresh losses in the white metal overseas mainly pulled down silver prices at futures trade here.

In the international market, silver traded 0.12 per cent lower at USD 16.98 an ounce in New York yesterday.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)