New Delhi, May 14 — Silver prices declined by Rs 117 to Rs 96,650 per kilogram on Wednesday as traders trimmed their positions amid subdued global cues.
On the Multi Commodity Exchange (MCX), silver futures for July delivery dropped 0.12 percent or Rs 117 to settle at Rs 96,650 per kg. The session witnessed a business turnover of 17,173 lots.
Market analysts attributed the decline to profit-booking and reduced bets by participants at current price levels. The correction follows a recent upward trend and signals a cautious sentiment among investors.
Internationally, silver futures were also under pressure, trading 0.44 percent lower at USD 32.78 per ounce in New York. The dip in global prices added to the bearish tone in domestic markets.
