Silver futures succumb to profit-booking, down Rs 120/kg

Silver prices tumbled Rs 120 to Rs 40,502 per kg in futures trade today as speculators cut their holdings to book profits at existing levels.
However, a firm trend in precious metals in global market kept losses limited.
Silver for delivery in March next year was trading sharply lower by Rs 120, or 0.30 per cent, at Rs 40,502 per kg, in a business turnover of 20 lots in futures trading at the Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in December lost Rs 96, or 0.24 per cent, at Rs 39,792 per kg, with a business turnover of 815 lots.

In the international market, silver traded 0.44 per cent higher at USD 17.07 an ounce in Singapore.
Marketmen said profit-booking by particpants at prevailing levels led to fall in silver prices at futures market here.