Silver futures down 1% on profit-booking,global cueshttps://indianexpress.com/article/business/market/silver-futures-down-1-on-profitbooking-global-cues/

Silver futures down 1% on profit-booking,global cues

Silver for delivery in July was trading Rs 567,or 1.04 per cent,lower at Rs 54,003 per kg.

Silver futures prices on Thursday fell by Rs 567,or 1.04 per cent,to Rs 54,003 per kg as speculators booked profits amid a weak trend overseas.

At the Multi Commodity Exchange,silver for delivery in July was trading Rs 567,or 1.04 per cent,lower at Rs 54,003 per kg,with a turnover of 2,207 lots.

Similarly,silver for delivery in September dropped by Rs 572,or 1.02 per cent,to Rs 55,324 per kg,with a business turnover of 362 lots.

Analysts said besides profit-booking by speculators after recent gains,a weak trend overseas after Federal Reserve extended stimulus measure for six months to boost the flagging economy,put pressure on the silver futures prices here.

Meanwhile,silver fell by 1.5 per cent to USD 27.72 an ounce in Singapore on Thursday.

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