Silver futures down on profit-booking, global cues

NEW DELHI: Silver prices fell by 0.69 per cent to Rs 67,389 per kg in futures trade today as speculators engaged in booking profits amid overnight losses in global market.
At the Multi Commodity Exchange , silver for delivery in May dropped by Rs 467, or 0.69 per cent to Rs 67,389 per kg, with a business turnover of one lot.
Likewise, for delivery in July the white metal traded Rs 432, or 0.63 per cent lower at Rs 68,143 per kg, with an open interest of three lots.
Analysts said besides profit-booking by speculators at existing record level, the drop in its prices overseas in yesterday's trade, led to the fall in silver futures prices here.
Meanwhile, silver lost 13 per cent, the biggest intra-day drop since October 2008, at USD 42.10 an ounce in yesterday's trade in New York.

(Source: http://economictimes.indiatimes.com/markets/commodities/silver-futures-down-on-profit-booking-global-cues/articleshow/8151248.cms)