Silver tumbles Rs 192 on weak global cues

Taking weak cues from overseas markets, silver prices dropped by Rs 192 to Rs 40,692 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 May was trading lower by Rs 192, or 0.71 per cent, to Rs 40,692 per kg, in a business turnover of five lots.
Similarly, the white metal for delivery in far-month July declined by Rs 265, or 0.64 per cent, to Rs 41,344 per kg in a business volume of 232 lots.
In the international market, silver fell 0.72 per cent to USD 17.27 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.