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Silver prices slumped Rs 202 to Rs 47,470 per kg at the futures trade today as speculators cut their holdings amid a weak trend overseas.
Silver for delivery in far-month March next year was trading sharply lower by Rs 202 or 0.42 per cent at Rs 47,470 per kg in a business turnover of 9 lots at the Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in December was trading Rs 193 or 0.41 per cent down at Rs 46,624 per kg with a business turnover of 1,125 lots.
In the international market, silver traded 0.84 per cent lower at $19.51 an ounce in Singapore today.
Market analysts said a weak trend in precious metals in global market as the dollar erased losses, dimming the precious metals’ appeal as an alternative investment, led to drop in silver prices at the futures trade here.
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