Silver plunges Rs 532 on weak global cues

Taking weak cues from global market, silver prices tumbled by another Rs 532 to Rs 47,139 per kg in futures trade today as participants engaged in trimming their positions.
At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 532 or 1.12 per cent to Rs 47,139 per kg in a business turnover of 2,655 lots.
The white metal for delivery in far-month December lost Rs 456 or 0.93 per cent to Rs 48,339 per kg in a business volume of 44 lots.
In the international market, silver was trading 1.13 per cent down at USD 20.15 an ounce in Singapore.

Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas ahead of the release of official US jobs data that may confirm steady employment and throw some light on the possible timing of an interest-rate increase.