Silver futures slump Rs 157 to Rs 44,349 per kg

Silver futures on Monday slumped by Rs 157 at Rs 44,349 per kg as participants cut down their bets in line with sluggish trend at overseas markets.

On the Multi Commodity Exchange, silver contracts for December delivery fell by Rs 157, or 0.35 per cent, at Rs 44,349 per kg in a business turnover of 95 lots.

Similarly, the white metal contracts for March delivery traded lower by Rs 292, or 0.65 per cent, at Rs 44,763 per kg in a business volume of 1,880 lots.

In the international market, silver fell 0.68 per cent to USD 16.99 an ounce in New York.

Traders said the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets.