Silver down Rs 185 on weak global cues, profit-booking

Amid a weakening trend overseas, silver fell Rs 185 to Rs 41,262 per kg in futures trade today as speculators trimmed their positions.

Silver for delivery in July traded lower by Rs 185 or 0.45% to Rs 41,262 per kg in a business turnover of 1,426 lots in futures trading at Multi Commodity Exchange (MCX).

On similar lines, the white metal for delivery in September was trading lower by Rs 183 or 0.43% at Rs 42,010 per kg in a business turnover of 53 lots.

In international market, silver traded 0.63% lower at $17.29 an ounce in Singapore.

Market analysts said a weak trend in precious metals in global markets and trimming of positions by speculators at prevailing levels, kept pressure on silver futures.