Silver prices plunged by Rs 207 to Rs 47,157 per kg in futures trade today as speculators reduced their exposure, tracking a weak trend overseas.
At Multi Commodity Exchange, silver prices for delivery in far-month March next year contracts traded sharply lower by Rs 207 or 0.44 per cent, to Rs 47,157 per kg in a business turnover of 10 lots.
Similarly, the white metal prices for delivery in December contracts slumped by Rs 177, or 0.38 per cent, to Rs 46,324 per kg in business volume of 927 lots.
In international market, silver fell by 1.27 per cent at 19.43 an ounce in New York yesterday.
Analysts attributed the fall in silver prices in futures trade to a weak trend in global markets as the dollar erased losses, dimming the metals' appeal as an alternative investment.
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