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This is an archive article published on May 2, 2011

Silver futures slip to Rs 65,750/kg

Silver prices nosedived by Rs 5,600 to Rs 65,750 per kg in futures trading on Monday.

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Silver prices nosedived by Rs 5,600 to Rs 65,750 per kg in futures trading on Monday as speculators off-loaded their positions in tandem with a weakening global cues.

At the Multi Commodity Exchange,silver for delivery in July dipped by Rs 5,600,or 7.85 to Rs 65,750 per kg,with a business volume of four lots.

Similarly,the metal for delivery in May dropped by Rs 5,419,or 7.69 per cent to Rs 65,088 per kg,with a business turnover of two lots.

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Market analysts said heavy selling by speculators in tandem with a weakening global trend mainly pulled down silver futures prices.

Meanwhile,silver plunged by 7.61 per cent to USD 44.29 an ounce in Asian region.

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