Silver futures fall Rs 117 per kg

Silver prices were down by Rs 117 to Rs 40,721 per kg in futures trade today as speculators cut their holdings even as metal strengthened overseas.
Silver for delivery in December was trading lower by Rs 117, or 0.29 per cent, at Rs 40,721 per kg in a business turnover of 177 lots in futures trading at the Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in far-month March shed Rs 98 or 0.24 per cent at Rs 41,422 per kg with a business turnover of 77 lots.
In the international market, silver rose 0.30 per cent at USD 16.62 an ounce in New York yesterday.

Market analysts said, trimming of positions by speculators to book profits at current levels mainly led to a fall in sivler prices at futures trade here but a firm trend in the precious metals overseas, capped the loss.