Silver weakens in futures trade, down Rs 62

Silver prices fell by Rs 62 to Rs 39,756 per kg in futures trade today as speculators cut down their bets to book profits, shrugging off positive global cues.
Silver for delivery in September was down by Rs 62 or 0.16 per cent to Rs 39,756 per kg in futures trade at the Multi Commodity Exchange. It clocked a business volume of 760 lots.
The white metal for delivery in far-month December fell by Rs 31, or 0.08 per cent to trade at Rs 40,435 per kg in a business turnover of 206 lots.
Market analysts said profit-booking at prevailing levels mainly pulled down silver prices at futures trade here but metal's gain overseas, restricted the fall.

In the international market, silver traded 0.12 per cent higher at USD 17.37 an ounce in Singapore.