Silver futures slip 0.06% on weak global cues

Taking weak cues from overseas markets, silver prices dropped 0.06 percent to Rs 37,407 per kg in futures trade today, as participants cut bets.

Also, profit-booking at prevailing levels by speculators weighed on prices.

At the Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 24, or 0.06 percent, at Rs 37,407 per kg, in a business turnover of 31 lots.

Similarly, the white metal for delivery in September was down Rs 13, or 0.06 percent, to Rs 36,595 per kg in 360 lots.

Traders said offloading of positions by participants due to a weak global trend led to the fall in silver prices in futures trade.

Globally, silver shed 1.87 percent to USD 14.46 an ounce in New York yesterday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)