Silver plunges Rs 171 on weak global cues

Taking weak cues from overseas markets, silver prices were down by Rs 171 to Rs 47,360 per kg in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in far-month December was trading lower by Rs 171, or 0.36 per cent to Rs 47,360 per kg in a business turnover of six lots.
Similarly, the white metal for delivery in September declined by Rs 146 or 0.31 per cent to Rs 46,258 per kg in a business volume of 510 lots.
In the international market, silver fell 0.20 per cent to USD 19.545 an ounce in Singapore today.

Traders said the fall in silver prices at futures trade was largely in tune with a weak trend in precious metals in global markets.