Silver futures over 2-yr low, down 3.7% on weak global cues
Prices had tumbled by 10% yesterday
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Silver futures for May traded lower by Rs 1,625, or 3.66%, to Rs 42,753 per kg in 3,465 lots.
This level was last seen in January, 2011.
At the Multi Commodity Exchange (MCX), the July contract declined by Rs 1,052, or 2.32%, to Rs 44,200 per kg in 223 lots.
Prices had tumbled by 10% yesterday.
Prices fell to hit an over two-year low in tandem with a weakening trend overseas.
In Singapore, silver traded 3% lower at $22.07 an ounce, the lowest level since October, 2010.
Meltdown in precious metal in global markets on worries over Chinese growth and a possible sell-off by struggling Cyprus' central bank also weighed on the silver futures trade here.
This level was last seen in January, 2011.
At the Multi Commodity Exchange (MCX), the July contract declined by Rs 1,052, or 2.32%, to Rs 44,200 per kg in 223 lots.
Prices had tumbled by 10% yesterday.
Prices fell to hit an over two-year low in tandem with a weakening trend overseas.
In Singapore, silver traded 3% lower at $22.07 an ounce, the lowest level since October, 2010.
Meltdown in precious metal in global markets on worries over Chinese growth and a possible sell-off by struggling Cyprus' central bank also weighed on the silver futures trade here.
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First Published: Apr 16 2013 | 1:51 PM IST