Silver futures fall 0.23 pc to Rs 37,996 per kg

Amid profit-booking by traders, silver prices fell by 0.23 per cent, to Rs 37,996 per kg Monday even as the metal strengthened overseas.

At the Multi Commodity Exchange, silver for delivery February fell Rs 88, or 0.23 per cent, to Rs 37,996 per kg with a business turnover of 354 lots.

Similarly, the white metal for delivery in March traded lower by Rs 85, or 0.22 per cent at Rs 37,969 per kg in 83 lots.

Traders said offloading of positions by participants to book profits led to the fall in silver prices in futures trade but a firm trend in global market capped the fall.

Globally, silver rose 0.03 per cent to USD 14.64 an ounce in Singapore Monday.