Silver futures plunge Rs 292 on global cues, profit-booking

Amid a weakening trend overseas, silver fell Rs 292 to Rs 39,990 per kg in futures trade today as speculators trimmed positions.
Silver for delivery in July traded lower by Rs 292, or 0.45 per cent, to Rs 39,990 per kg in a business turnover of 1,230 lots in futures trading at Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in September was trading lower by Rs 291, or 0.71 per cent, at Rs 40,475 per kg in a business turnover of 22 lots.
In international market, silver traded 0.72 per cent lower at USD 17.25 an ounce in Singapore.

Market analysts said, a weak trend in precious metals in global markets and trimming of positions by speculators at prevailing levels to book profits, kept pressure on silver futures.