Silver plunges Rs 451 on weak global cues, profit-booking

Taking weak cues from global market, silver prices tumbled by Rs 451 to Rs 47,952 per kg in futures trade today as participants engaged in trimming their positions.
At the Multi Commodity Exchange, silver for delivery in far-month March next year was trading sharply lower by Rs 451 or 0.93 per cent to Rs 47,952 per kg in a business turnover of 22 lots.
The white metal for delivery in December lost Rs 428 or 0.90 per cent to Rs 47,140 per kg in a business volume of 912 lots.
In the international market, silver was trading 0.33 per cent down at USD 19.77 an ounce in Singapore.

Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.