Silver futures down 0.58% on global cues

NEW DELHI-INDIA (Oct 22) Taking cues from the overseas markets and profit-booking by speculators, silver prices fell by 0.58 per cent to Rs 50,175 per kg in futures trade.

At the Multi Commodity Exchange, silver for delivery in March, 2014, traded lower by Rs 295, or 0.58 per cent, to Rs 50,175 per kg in business turnover of three lots.

Similarly, the white metal for delivery in December declined by Rs 252, or 0.51 per cent, to Rs 48,926 per kg in business volume of 314 lots.

In the international market, silver traded 0.79 per cent lower at $22.06 an ounce in Singapore.

Market analysts said a weak trend in precious metals in the global markets and profit-booking by speculators, led to fall in silver prices at futures trade.