Silver futures fall by 1.8% on global cues

Silver prices plunged by Rs 674 to Rs 37,158 per kg in futures trade today as speculators reduced their exposure, tracking a weak trend overseas.

At Multi Commodity Exchange, silver prices for delivery in December contracts traded sharply lower by Rs 674, or 1.8%, to Rs 37,158 per kg in business turnover of 3,298 lots.

Similarly, the white metal prices for delivery in far-month March 2016 contract slumped by Rs 670, or 1.74%, to Rs 37,847 per kg in business volume of 76 lots.

In the international market, silver traded little changed at 15.89 an ounce in Singapore.

Analysts attributed the fall in silver prices in futures trade to a weak trend in global markets after hints of an interest rate hike in December by the US Federal Reserve boosted the dollar.