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Amid profit-booking by speculators, silver prices dropped by Rs 179 to Rs 43,900 per kg at the futures trade today even as the metal strengthened overseas.
Silver for delivery in December was trading lower by Rs 179 or 0.41 per cent at Rs 43,900 per kg in a business turnover of 514 lots at the Multi Commodity Exchange (MCX).
Also, the white metal for delivery in March fell Rs 159 or 0.36 per cent at Rs 44,480 per kg with a business turnover of 8 lots.
Silver traded 0.68 per cent higher at $18.58 an ounce in Singapore.
Market analysts said the fall in silver prices at the futures trade was mostly attributed to profit-booking by speculators at prevailing levels, but the metal’s gains overseas on safe haven buying minimised the losses.
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