Silver prices fall by Rs 288 in futures trade on global cues

Silver prices dropped by Rs 288 to Rs 42,401 per kg in futures trade today as participants indulged in cutting down their bets amid a weak trend overseas.
Moreover, profit-booking at prevailing levels by speculators weighed on silver prices.
At the Multi Commodity Exchange, silver for delivery in far-month July was trading lower by Rs 288, or 0.67 per cent, to Rs 42,401 per kg, in a business turnover of 19 lots.
Similarly, the white metal for delivery in May declined by Rs 276, or 0.65 per cent, to Rs 41,911 per kg in a business volume of 912 lots.

In the international market, silver fell 0.38 per cent to USD 18.18 an ounce in Singapore today.
Traders attributed the fall in silver prices at futures trade to a weak trend in precious metals in global markets and profit-booking by speculators.