Silver prices dipped by Rs 2,684 to Rs 67,445 per kg in futures trading today as speculators locked in gains at record high levels amid a weak trend overseas.
At the Multi Commodity Exchange, silver for May delivery dipped by Rs 2,684, or 3.40%, to Rs 67,445 per kg after touching a low of Rs 66,387, with a business volume of 21,646 lots.
It touched a record high of Rs 73,600 per kg in the previous session.
Similarly, the white metal for July delivery dropped by Rs 2,638, or 3.31%, to Rs 68,355 per kg, with an open interest in 5,523 lots. The shiny metal plunged to Rs 67,001 per kg during intra-day trade today.
Analysts said the fall in silver futures was mostly attributed to a decline in its prices in global markets after it climbed to an over 31-year high on the back of a weaker dollar and escalating tension in the Middle East and North Africa.
Meanwhile, silver shed 2.70% to $45.73 an ounce in Asia, after reaching $49.31 yesterday, the highest level since 1980.
