Silver futures plunge 1 per cent on weak global cues

Tracking a weak global trend, silver prices dropped by 1 per cent to Rs 41,315 per kg in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in July month fell by Rs 416, or 1.00 per cent to Rs 41,315 per kg in business turnover of 6995 lots.
Likewise, the white metal for delivery in September contracts traded lower by Rs 370, or 0.88 per cent to Rs 41,904 per kg in 137 lots.
Traders attributed the fall in silver prices at futures trade to a weak trend in precious metals in global markets.

Gold and silver prices ended lower at domestic spot market as the auspicious Akshaya Tritiya festival failed to enthuse the spirit of buyers.
Globally, silver fell 0.72 per cent to USD 17.31 an ounce in London.