Silver futures plunge Rs 208 on weak global cues

Silver prices tumbled Rs 208 to Rs 47,975 per kg in futures trade today as speculators cut their holdings amid a weakening trend overseas.
Silver for delivery in December was trading sharply lower by Rs 208 or 0.43 per cent at Rs 47,975 per kg in a business turnover of 8 lots in futures trading at Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in September slumped Rs 185 or 0.39 per cent at Rs 46,930 per kg with a business turnover of 820 lots.
In the international market, silver traded 0.32 per cent lower at USD 20.03 an ounce in Singapore.

Market analysts said a weak trend in precious metals in global market led to the fall in silver prices at futures trade here.