White metal dips on feeble global cues

Silver futures were trading lower during the afternoon trade in the domestic market on Monday as participants engaged in trimming their positions taking weak cues from global market. We attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.

At the MCX, silver futures for September 2018 contract was trading at Rs 38301 per kg, down by 0.07 per cent, after opening at Rs 38,250, against a previous close of Rs 38,326. It touched the intra-day low of Rs 38,146.

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