Silver futures drop to Rs 40,065 per kg

New Delhi-India (June 18)  Silver prices dropped by Rs 134 per kg to Rs 40,065 per kg at the futures trade today as speculators locked-in gains at prevailing levels amid a weak trend in global markets.

Silver for delivery in July was trading lower by Rs 134 or 0.33 per cent at Rs 40,065 per kg, in a business turnover of 1,043 lots at the Multi Commodity Exchange. Similarly, the metal for delivery in September declined by Rs 116 or 0.28 per cent at Rs 40,797 per kg in a business of 162 lots.

In the international market, silver shed 0.27 per cent to $16.49 an ounce in Singapore. Analysts attributed the fall in silver in futures trade to profit-booking and a weak trajectory in global markets.

BusinessLine