Silver futures fall Rs 435 on profit booking, weak overseas trend

New Delhi, Sep 3 (PTI) Silver prices on Wednesday fell by Rs 435 to Rs 1,24,095 per kilogram in futures trade as traders booked profits at higher levels amid a weak trend in the global markets.

On the Multi Commodity Exchange, silver contracts for December delivery declined Rs 435 or 0.35 per cent to Rs 1,24,095 per kg in a business turnover of 20,244 lots.

"Silver prices showed a mild profit taking from higher levels amid a rebound in the dollar index," Rahul Kalantri, Vice-President of Commodities at Mehta Equities, said.

In the international market, Comex silver futures were trading 0.19 per cent lower at USD 41.52 per ounce.

However, the losses were limited as investors remained hopeful that the US Federal Reserve could cut interest rates this month after Chair Jerome Powell signalled policy flexibility, with markets awaiting the US jobs report later this week for further cues, Kalantri added. PTI HG DR DR