Silver prices tumbled Rs 659 to Rs 45,535 per kg at the futures trade today as speculators cut their holdings amid a weak trend overseas.
Silver for delivery in December was trading sharply lower by Rs 659 or 1.43 per cent at Rs 45,535 per kg in a business turnover of 1,147 lots at the Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in far-month March next year slumped Rs 626 or 1.33 per cent at Rs 46,516 per kg with a business turnover of 32 lots.
In the international market, silver traded 0.58 per cent lower at $18.92 an ounce in Singapore.
Market analysts said a weak trend in precious metals in global market after revived speculations about a possible US rate hike as soon as this month, led to a steep fall in silver prices at the futures trade here.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.