Silver futures tumble Rs 622 as weak global cues hurt

Amid a weakening trend overseas, silver prices plunged by Rs 622 to Rs 35,192 per kg in futures trade today as speculators indulged in offloading positions at existing levels.
Silver for delivery in September contracts traded sharply lower by Rs 622, or 1.74 per cent, to Rs 35,192 per kg in a business turnover of 9,991 lots in futures trading at Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in far-month December was trading Rs 590, or 1.61 per cent lower, at Rs 35,975 per kg with a business turnover of 494 lots.
In the international market, silver traded 1.40 per cent lower at USD 15.10 an ounce in London.

Market analysts said a weak trend in precious metals in global markets amid profit-booking by participants, dragged down silver prices at futures trade here.