Silver futures down on global cues,profit-booking

Silver futures prices declined by Rs 241 to Rs 54,300 per kg today as speculators booked profits amid a weak trend in the Asian region. At the Multi Commodity Exchange,silver for delivery in July was trading Rs 241,or 0.44 per cent,lower at Rs 54,300 per kg,with a business turnover of 839 lots.

Similarly,silver for delivery in September dropped by Rs 237,or 0.42 per cent,to Rs 55,657 per kg,with a business turnover of 49 lots.

Analysts said a weak trend in global markets,and profit-booking by speculators after recent gains put pressure on the silver futures prices here. Meanwhile,silver traded 0.3 per cent lower at USD 28.95 an ounce in Singapore today.