Silver prices fell by Rs 131 to Rs 63,461 a kg in futures trade on Wednesday as speculators locked in gains at existing levels amid a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September was trading Rs 131, or 0.21 per cent, lower at Rs 63,461 a kg, with a turnover of 1,041 lots.
Similarly, silver for delivery in December dropped by Rs 132, or 0.20 per cent, to Rs 65,030 a kg, with a business turnover of 93 lots.
Analysts said in addition to profit-booking by speculators at higher levels, a weak trend in global markets also put pressure on silver futures prices here.
Meanwhile, silver fell sharply by 4.21 per cent to $41.88 an ounce in New York yesterday after some investors sold the metal at prevailing higher levels.
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.