Silver futures drop on weak overseas trend

Silver futures drop on weak overseas trend

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New Delhi, Jun 15 (PTI) Silver futures on Monday dropped by Rs 790 to Rs 46,900 per kg as participants reduced their bets on weak global cues.

On the Multi Commodity Exchange, silver contracts for July delivery tumbled by Rs 790, or 1.66 per cent, to Rs 46,900 per kg in a business turnover of 10,562 lots.

Similarly, silver for September delivery fell by Rs 857, or 1.77 per cent, to Rs 47,671 per kg in a business turnover of 1,778 lots.

Analysts said weak trends in overseas markets mainly kept pressure on silver prices in the domestic market.

Meanwhile, silver traded 1.24 per cent lower at USD 17.27 an ounce in New York.

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