Silver plunges Rs 354, hurt by global cues

Taking weak cues from overseas markets, silver prices fell sharply by Rs 354 to Rs 36,843 per kg in futures trade today.
In futures trading at the Multi Commodity Exchange, silver for delivery in far-month December was trading lower by Rs 354, or 0.95 per cent, at Rs 36,843 per kg in a business turnover six lots.
Similarly, the white metal for delivery in September declined by Rs 353, or 0.97 per cent, to Rs 36,191 per kg in a business volume of 1,135 lots.
In the international market, silver fell 0.64 per cent to USD 15.54 an ounce in Singapore.

Traders said the fall in silver prices was largely due to offloading of positions by participants in line with a weak trend in precious metals at global markets.