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