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Silver prices slumped Rs 151 to Rs 40,390 per kg at the futures trade as speculators cut down their bets at prevailing levels, ignoring a firm trend overseas.
Silver for delivery in far-month July was trading sharply lower by Rs 151 or 0.37 per cent at Rs 40,390 per kg in a business turnover of 431 lots at the Multi Commodity Exchange.
In the international market, silver rose 0.18 per cent to $16.67 an ounce in Singapore on the back of a subdued dollar as investors considered the prospects of slower interest rate hikes in the United States.
Analysts attributed the fall in silver futures to offloading of positions by participants.
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