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Silver weakens in futures trade, down Rs 193

New delhi: Silver prices fell by Rs 193 to Rs 41,954 per kg in futures trade today as speculators cut down bets.

Silver for delivery in May was trading down by Rs 193, or 0.46 per cent, to Rs 41,954 per kg in futures trading at the Multi Commodity Exchange. It clocked a business volume of 692 lots.

The white metal for delivery in July fell by Rs 159, or 0.37 per cent, to trade at Rs 42,420 per kg, in a business turnover of six lots.

Market analysts said, apart from profit-booking at prevailing levels, a weak trend overseas as the strength in the dollar reduced appeal of the precious metals as a safe haven, mainly pulled down silver prices at futures trade.

In the international market, silver traded 0.25 per cent lower at USD 18.04 an ounce in Singapore.

PTI