Silver prices down on profit-booking

Sep 27 2012, 14:50 IST
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SummaryWhite metal in March declined by Rs 109, or 0.16 per cent, to Rs 64,230 per kg in 111 lots.

Amid profit-booking by speculators at prevailing attractive levels, silver prices moved down marginally by 0.19 per cent to Rs 62,539 per kg in futures trade today.

However, a firm trend in the global markets restricted the losses.

At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 117, or 0.19 per cent, to Rs 62,539 per kg, with a business turnover of 1,329 lots.

Likewise, the white metal for delivery in March declined by Rs 109, or 0.16 per cent, to Rs 64,230 per kg in 111 lots.

Marketmen said speculators offloaded positions in line with a weak global trend that kept pressure on silver prices at futures trade but a firm trend overseas limited the losses.

Globally, silver rose 0.29 per cent to USD 34.09 an ounce in Singapore.

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