 "Silver down by 2.1% on weak global cues")
Taking weak cues from overseas markets, silver prices tumbled Rs 806 to Rs 37,178 per kg in futures trade today, as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in March tumbled Rs 806, or 2.12%, to Rs 37,178 per kg in a business turnover of 1,867 lots.
Similarly, the white metal for delivery in far-month May was trading lower by Rs 778, or 2.03%, to Rs 37,638 per kg in a business volume of 128 lots.
Traders said the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets as rising share markets and a firmer yuan eroded demand for safe-haven assets.
Moreover, profit-booking at existing levels weighed on the white metal prices, they said.
At the Multi Commodity Exchange, silver for delivery in March tumbled Rs 806, or 2.12%, to Rs 37,178 per kg in a business turnover of 1,867 lots.
Similarly, the white metal for delivery in far-month May was trading lower by Rs 778, or 2.03%, to Rs 37,638 per kg in a business volume of 128 lots.
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In the international market, silver slumped 2.7% to $15.31 an ounce in Singapore today
Traders said the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets as rising share markets and a firmer yuan eroded demand for safe-haven assets.
Moreover, profit-booking at existing levels weighed on the white metal prices, they said.