NEW DELHI, Oct 8: Amid a weakening trend overseas, silver prices tumbled Rs 651 to Rs 36,850 per kg in futures trade today as speculators cut their positions.
Silver for delivery in far-month March next year contracts was trading sharply lower by Rs 651, or 1.74 per cent, at Rs 36,850 per kg in a business turnover of 1,663 lots in futures trading at Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in December slumped Rs 643, or 1.68 per cent, at Rs 37,590 per kg with a business turnover of 29 lots.
In the international market, silver traded 2.5 per cent lower at USD 15.65 an ounce in Singapore.
Market analysts said a weak trend in precious metals in global markets as investors awaited minutes from the US Federal Reserve’s last meeting for clues on the timing of an interest rate increase, kept pressure on silver futures. (PTI)
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