Silver falls by Rs 118 on weak global cues, profit-booking

New Delhi: Taking weak cues from overseas markets, silver prices fell by Rs 118 to Rs 37,905 per kg in futures trade On 29th April as speculators trimmed their exposure.

At the Multi Commodity Exchange, silver for delivery in July was trading lower by Rs 118 or 0.31 per cent at Rs 37,905 per kg in a business turnover of 125 lots.

Similarly, the white metal for delivery in May declined by Rs 107 or 0.29 per cent to Rs 37,420 per kg in a business volume of 537 lots.

In the international market, silver fell 0.6 per cent to USD 16.50 an ounce in Singapore today.

Traders said the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets, apart from profit-booking by speculators.