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Taking weak cues from overseas markets, silver prices were down by Rs 66 to Rs 39,024 per kg in futures trade today as participants cut bets. Also, profit-booking at prevailing levels by speculators pushed down silver prices.
At the Multi Commodity Exchange, silver for delivery in July dropped by Rs 66, or 0.17 per cent, to Rs 39,024 per kg, in a business turnover of eight lots.
Similarly, the white metal for delivery in May was trading lower by Rs 52, or 0.13 per cent, to Rs 38,535 per kg in 209 lots. Traders said offloading of positions by participants at prevailing levels and a weak global trend led to the fall in silver prices in futures trade.
Globally, silver shed 0.85 per cent to USD 16.37 an ounce in New York yesterday.
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