Silver prices drop Rs 184, hurt by weak global cues

Taking weak cues from overseas markets, silver prices tumbled Rs 184 to Rs 43,771 per kg in futures trade today, as participants reduced exposure.

At the Multi Commodity Exchange, silver for delivery in far-month May lost Rs 184, or 0.42 per cent, to Rs 43,771 per kg, in a turnover of 109 lots.

Similarly, the white metal for delivery in March was trading lower by Rs 147, or 0.34 per cent, to Rs 43,100 per kg, in a business volume of 20 lots.

In the international market, silver slumped 0.27 per cent to USD 18.24 an ounce in Singapore today.

Traders said the fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets as strength in the dollar reduced demand for the precious metals as a safe-haven.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)