Silver tumbles Rs 104 on weak global cues

Taking weak cues from overseas markets, silver prices dropped by Rs 104 to Rs 43,945 per kg in futures trade today, as participants cut down their bets.
Moreover, profit-booking at prevailing levels by speculators weighed on silver prices.
At the Multi Commodity Exchange, silver for delivery in far-month May was trading lower by Rs 104, or 0.24 per cent, to Rs 43,945 per kg, in a business turnover of 151 lots.
Similarly, the white metal for delivery in March declined by Rs 67, or 0.15 per cent, to Rs 43,341 per kg in a business volume of one lot.
In the international market, silver fell 0.19 per cent to USD 18.36 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 as the strength in the dollar eroded appeal of the precious metals as a safe haven and profit-booking by speculators.