Silver futures plunge Rs 139 on lower global cues

Amid a weakening trend overseas, silver prices dropped by Rs 139 to Rs 45,340 per kg in futures trade today as speculators cut down their bets.

Silver for delivery in far-month December was trading lower by Rs 139, or 0.31 per cent, to Rs 45,340 per kg, in a business turnover of 20 lots in futures trading at the Multi Commodity Exchange (MCX).

The white metal for delivery in September shed Rs 115, or 0.26 per cent, at Rs 44,381 per kg, with a business turnover of 707 lots.

In the international market, silver traded 0.50 per cent lower at USD 18.78 an ounce in Singapore.
 

Market analysts said a weak trend in precious metals in global markets,, kept pressure on silver futures.