Silver plunges over 2 per cent on global cues

NEW DELHI, Nov 27:� Silver prices fell sharply by over 2 per cent to Rs 36,723 per kg in futures trade today as speculators indulged in trimming positions amidst a weak trend overseas.At the Multi Commodity Exchange, silver for delivery in far-month March next year contracts plunged by Rs 776, or 2.07 per cent, to Rs 36,723 per kg in a business turnover of 776 lots.Similarly, the white metal for delivery in December declined by Rs 621, or 1.69 per cent, to Rs 35,975 per kg in a business volume of 1,447 lots.In the international market, silver retreated by 0.90 per cent to USD 16.36 an ounce in Singapore.Market analysts said offloading of positions by speculators, triggered by a weak trend in global markets, led to the plunge in silver prices at futures trade here. (PTI)