Silver prices slide Rs 171 at futures trade

Silver prices plunged by Rs 171 to Rs 45,156 per kg in futures trade today as speculators reduced their exposure, tracking a weak trend overseas.

At the Multi Commodity Exchange, silver prices for delivery in far-month December traded lower by Rs 171, or 0.38 per cent, to Rs 45,156 per kg, in a business turnover of 197 lots.

Similarly, the white metal prices for delivery in September slumped by Rs 127, or 0.29 per cent, to Rs 44,240 per kg, in a business volume of 668 lots.

In the international market, silver fell by 0.58 per cent at 18.73 an ounce in Singapore.
 

Analysts attributed the fall in silver prices in futures trade to a weak trend in global markets on rising speculation that the US Federal Reserve may tighten monetary policy before the end of the year, reducing the appeal for the precious metals.