 "Silver down 1.7% on weak global cues")
Silver prices tumbled 1.75% to trade at Rs 38,932 per kg in futures trade today as speculators offloaded exposures on weak cues from global markets.
At the Multi Commodity Exchange, silver for delivery in December dipped by Rs 694, or 1.75%, to Rs 38,932 per kg in a business turnover of 1,101 lots.
Analysts said trimming of positions by speculators amid a weak trend in precious metals overseas as the outlook for higher US borrowing costs strengthened the dollar and dampening demand for a store of value, mainly weighed on silver prices.
Meanwhile, silver sank to four-year low of $17.34 an ounce in Singapore, the lowest level since July 2010.
At the Multi Commodity Exchange, silver for delivery in December dipped by Rs 694, or 1.75%, to Rs 38,932 per kg in a business turnover of 1,101 lots.
Analysts said trimming of positions by speculators amid a weak trend in precious metals overseas as the outlook for higher US borrowing costs strengthened the dollar and dampening demand for a store of value, mainly weighed on silver prices.
Meanwhile, silver sank to four-year low of $17.34 an ounce in Singapore, the lowest level since July 2010.