Silver prices dropped Rs 219 to Rs 38,075 per kg in futures trade today as buyers trimmed their positions following weak cues from global market.
At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 219, or 0.57 per cent, to Rs 38,075 per kg in a business turnover of 395 lots.
The metal for delivery in December too lost Rs 197, or 0.50 per cent, to Rs 38,496 per kg in a business volume of 4 lots.
Globally, silver was trading 0.07 per cent down at USD 15.27 an ounce in Singapore.
Marketmen attributed the fall in silver prices in futures trade to a weak trend in precious metals overseas as dollar climbed near a one-year high, eroding appeal of the precious metals as a safe haven.
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