Silver Futures Tumble on Weak Demand

New Delhi, Sep 4 (PTI) Silver prices on Thursday tumbled Rs 1,500 to Rs 1,24,374 per kilogram in the futures trade on the MCX as market participants cut down their bets, taking weak cues from international markets.

Extending the losses for the second consecutive session, the white metal futures dropped Rs 1,498 or 1.19 per cent to Rs 1,24,374 per kg in a business turnover of 19,284 lots.

In the last two sessions, silver futures tanked Rs 1,926 or 1.52 per cent.

On the global front, Comex silver futures was trading 1.23 per cent lower at USD 41.48 per ounce.

Analysts said muted demand, weak trend in precious metal in global markets and trimming of positions by speculators weighed on silver futures in the domestic markets.