Silver fell sharply by Rs. 354, Hurt by Global Cues

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Taking weak cues from overseas markets, silver costs fell sharply by Rs. 354 to Rs. 36,843 per kg in futures trade on Tuesday.

In futures trading at the Multi Commodity Exchange, silver for delivery in far-month December was trading lower by Rs. 354, or 0.95%, at Rs. 36,843 per kg in a business turnover six parts.

Similarly, the white metal for conveyance in September declined by Rs. 353, or 0.97%, to Rs. 36,191 per kg in a business volume of 1,135 parts.

In the international market, silver fell 0.64% to $15.54 an ounce in Singapore.

Traders said the fall in silver costs was largely because of offloading of positions by members in line with a weak trend in precious metals at global markets.

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