Amid a weak trend overseas, silver prices tumbled Rs 651 to Rs 36,850 per kg at the futures trade today as speculators cut their positions.
Silver for delivery in far-month March next year 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 on the Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in December slumped Rs 643 or 1.68 per cent to Rs 37,590 per kg with a business turnover of 29 lots.
In the international market, silver traded 2.5 per cent lower at $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.