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Silver prices dipped by Rs 2,684 to Rs 67,445 a kg in futures trading today as speculators locked in gains at record high levels amid a weak trend overseas.
At the Multi Commodity Exchange, silver for May delivery dipped by Rs 2,684 or 3.40 per cent to Rs 67,445 a kg after touching a low of Rs 66,387 with a business volume of 21,646 lots. It touched a record high of Rs 73,600 a kg in the previous session.
Similarly, the white metal for July delivery dropped by Rs 2,638 or 3.31 per cent to Rs 68,355 a kg with an open interest in 5,523 lots. The shiny metal plunged to Rs 67,001 a kg during intra-day trade today.
Analysts said fall in silver futures was mostly attributed to a decline in its prices in global markets after it climbed to an over 31-year high on the back of a weaker dollar and escalating tension in West Asia and North Africa.
Meanwhile, silver shed 2.70 per cent to $45.73 an ounce in Asia, after reaching $49.31 yesterday, the highest level since 1980.
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