Silver plunges Rs 273 on weak global cues

Taking weak cues from overseas markets, silver prices tumbled by Rs 273 to Rs 40,795 per kg in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in far-month July was trading lower by Rs 273 or 0.66 per cent to Rs 40,795 per kg in a business turnover of 1,034 lots.
Similarly, the white metal for delivery in far-month September declined by Rs 270 or 0.65 per cent to Rs 41,550 per kg in a business volume of 228 lots.
In the international market, silver fell 0.93 per cent to USD 17.12 an ounce in Singapore today.

Traders said the fall in silver prices was largely in step with a weak trend in precious metals in the global markets.