Silver slumps Rs 272 on weak global cues

Taking weak cues from overseas markets, silver prices fell by Rs 272 to Rs 37,180 per kg in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 272 or 0.73 per cent to Rs 37,180 per kg in a business turnover of 568 lots.
Similarly, the white metal for delivery in far-month December declined by Rs 194 or 0.51 per cent to Rs 37,868 per kg in a business volume of four lots.
In the international market, silver fell 0.94 per cent to USD 15.88 an ounce in Singapore today.

Traders said reducing of exposure by participants, tracking a weak trend in global markets, led to the fall in silver prices at futures trade here.