Silver futures extend losses on profit-booking, global cues | business | Hindustan Times
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Silver futures extend losses on profit-booking, global cues

business Updated: Aug 10, 2011 13:52 IST
PTI
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Silver prices fell by 0.32 % to Rs 57,230 per kg in futures trade on Wednesday, extending Tuesday's losses, on continued profit-booking by speculators amid weak trend at New York.

At the Multi Commodity Exchange, silver for delivery in September dropped by Rs 181, or 0.32 %, to Rs 57,230 per kg, with a business turnover of 3,538 lots.

Likewise, for delivery in December, the white metal traded Rs 197, or 0.32 %, lower at Rs 58,701 per kg, clocking a turnover of 386 lots.

Analysts said besides continued profit-booking by speculators at existing level, the drop in its prices in New York yesterday, also led to the fall in silver futures prices.

In addition, a weak trend at the domestic market also put some pressure on the silver futures prices, they said.

Meanwhile, silver lost 3.38 % to trade lower at $ 37.71 an ounce in Tuesday's trade in New York.

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