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New Delhi, March 1 Taking weak cues from overseas markets, silver prices tumbled Rs 171 to Rs 38,075 per kg at the futures trade, as participants reduced their exposure.
At the Multi Commodity Exchange, silver for delivery in March lost Rs 171 or 0.45 per cent to Rs 38,075 per kg in a turnover of 53 lots. Similarly, the white metal for delivery in far-month May was trading lower by Rs 141 or 0.36 per cent at Rs 38,625 per kg in a business volume of 180 lots.
In the international market, silver slumped 0.24 per cent to $16.35 an ounce in Singapore today. Traders said the fall in silver prices at the futures trade was largely in line with a weak trend in precious metals in global markets as dollar’s strength reduced the demand for the precious metals as a safe-haven.
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