Silver prices fell by Rs 571 to Rs 58,617 per kg at the futures trade today as speculators locked-in gains at the existing levels amid a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September, traded lower by Rs 571 or 0.96 per cent at Rs 58,617 per kg with a turnover of 160 lots.
Similarly, December contract dropped by Rs 512 or 0.84 per cent to Rs 60,128 per kg after rising to Rs 61,850 with a business turnover of 236 lots.
Analysts said besides profit-booking by speculators at current higher levels, a weak trend in the global markets also put pressure on the silver futures prices here.
Meanwhile, silver fell 0.38 per cent to $38.88 an ounce in Hong Kong in the early trade today.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.