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Silver prices slumped Rs 214 to Rs 39,901 per kg in futures trade today taking weak cues from overseas markets as participants reduced exposure. At the Multi Commodity Exchange, silver for delivery in March lost Rs 214, or 0.53 per cent, to Rs 39,901 per kg, in a business turnover of 16 lots. Similarly, the white metal for delivery in December was trading lower by Rs 162, or 0.41 per cent, to Rs 39,295 per kg, in a business volume of 313 lots. In the international market, silver shed 0.15 per cent to USD 16.54 an ounce in Singapore today. Traders said that the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets as strength in dollar eroded haven demand.
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