 "Silver down 0.7% on profit-booking; global cues")
Amid profit-booking by participants and a weak trend in the global markets, silver prices today fell by 0.70% to Rs 50,706 per kg.
At the Multi Commodity Exchange, silver for delivery in March, 2014, after remaining higher in early trade, turned weak and traded Rs 358, or 0.70% to Rs 50,706 per kg in business turnover of 234 lots.
Similarly, the white metal for delivery in December in two-way movements, was trading Rs 343, or 0.69% lower at Rs 49,218 per kg in business volume of 314 lots.
Analysts said besides profit-booking by speculators after recent gains, a weak trend in precious metals in the global markets as a stronger dollar reduced demand, led to fall in silver prices at futures trade here.
At the Multi Commodity Exchange, silver for delivery in March, 2014, after remaining higher in early trade, turned weak and traded Rs 358, or 0.70% to Rs 50,706 per kg in business turnover of 234 lots.
Similarly, the white metal for delivery in December in two-way movements, was trading Rs 343, or 0.69% lower at Rs 49,218 per kg in business volume of 314 lots.
More From This Section
In the international market, silver traded 0.50% lower at $22.38 an ounce in London.
Analysts said besides profit-booking by speculators after recent gains, a weak trend in precious metals in the global markets as a stronger dollar reduced demand, led to fall in silver prices at futures trade here.