Silver futures extend losses,down 2.52 pct on on global cues

Silver fell by 0.95 per cent to 22.97 dollar an ounce in Singapore today.

Taking negative cues from the global market and profit-booking by speculators,silver prices fell 2.52 per cent to trade at Rs 49,925 per kg in futures trade on Tuesday.

At the Multi Commodity Exchange,Silver for delivery in September dipped by Rs 1,290,or 2.52 per cent,to Rs 49,925 per kg in business turnover of 12,918 lots.

In a similar fashion,the white metal for delivery in far-month December contracts traded Rs 1,332,or 2.51 per cent lower,at Rs 51,321 per kg in 1,079 lots.

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Market analysts said besides profit-booking at current levels by speculators,a weak trend overseas with investors awaiting minutes from the US central bank’s July policy meeting for clues on when it will begin scaling back its commodities-friendly stimulus steps,mainly weighed on silver prices at futures here.

Meanwhile,silver fell by 1.90 per cent to 22.75 dollar an ounce in Singapore today.

Police personnel seen to control the situation during a massive protest over the statehood demand and the inclusion of Ladakh under the Sixth Schedule, in Leh on Wednesday. (ANI Video Grab)

Statehood protest takes violent turn in Ladakh, BJP office set ablaze in Leh

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Protests in Ladakh turned violent as students and youth organisations demanded statehood and Sixth Schedule status. Two elderly protesters fainted, prompting a shutdown call. A BJP office and security vehicle were set on fire. Activist Sonam Wangchuk urged for a peaceful approach. The demand for Sixth Schedule status is due to Ladakh's tribal-majority population and direct central administration.

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