Amid profit-booking by
speculators and weak global cues, silver prices dropped by Rs 423 to Rs 38,851 per kg in futures trade Monday.
Silver for delivery in December was trading sharply lower by Rs 423 or 1.08 per cent to Rs 38,851 per kg in a business turnover of 1,492 lots at Multi Commodity Exchange (MCX).
Silver traded 0.11 per cent lower at USD 14.48 an ounce in Singapore.
Market analysts said fall in silver prices at futures trade was mostly attributed to profit-booking by speculators at prevailing levels and weak global cues as strengthening dollar eroded appeal for precious metals as a safe haven investment.
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