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Silver futures slump on subdued global cues

Press Trust of India  |  New Delhi 

Silver futures slumped by Rs 318 at Rs 44,908 per kg on Wednesday 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 318, or 0.70 per cent, at Rs 44,908 per kg in a business turnover of 7,274 lots.

Similarly, the white metal contracts for March delivery traded lower by Rs 320, or 0.69 per cent, at Rs 45,860 per kg in a business volume of 121 lots.

In the international market, silver fell 0.80 per cent to USD 17.25 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 16 2019. 12:40 IST