 "Silver futures dip below 40k level on global cues")
Silver prices dipped below Rs 40,000 by falling Rs 1,171 to trade at Rs 39,862 per kg in futures trade today as speculators offloaded their positions, driven by a fall in overseas markets.
At the Multi Commodity Exchange, Silver for delivery in September month dipped by Rs 1,171, or 2.85%, to Rs 39,862 per kg in business turnover of 3,669 lots.
In a similar fashion, the white metal for delivery in July contract plunged by Rs 1061, or 2.61%, to Rs 39,602 per kg in 17,213 lots.
Meanwhile, silver sank by 4.05% to 18.98 dollar an ounce, taking its losses for the quarter to 32% in London.
At the Multi Commodity Exchange, Silver for delivery in September month dipped by Rs 1,171, or 2.85%, to Rs 39,862 per kg in business turnover of 3,669 lots.
In a similar fashion, the white metal for delivery in July contract plunged by Rs 1061, or 2.61%, to Rs 39,602 per kg in 17,213 lots.
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Market analysts said speculators offloaded their positions in line with a weak global trend mainly pulled down silver prices at futures trade.
Meanwhile, silver sank by 4.05% to 18.98 dollar an ounce, taking its losses for the quarter to 32% in London.