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Taking weak cues from overseas markets, silver prices slumped Rs 390 to Rs 42,460 per kg at the futures trade as participants cut down their bets.
Also, profit-booking at prevailing levels by speculators pushed down silver prices.
At the Multi Commodity Exchange, silver for delivery in far-month July dropped Rs 390 or 0.91 per cent to Rs 42,460 per kg in a business turnover of six lots.
Similarly, the white metal for delivery in May was trading lower by Rs 373 or 0.88 per cent at Rs 42,015 per kg in 712 lots.
Traders said offloading of positions by participants at higher levels and a weak global trend mainly led to the fall in silver prices at the futures trade.
Globally, silver shed 0.66 per cent to $18.04 an ounce in Singapore.
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