Commodities
MCX Silver Futures Plunge to Rs 2.43 Lakh/kg Amid Participant Sell-Off
Silver prices on the Multi Commodity Exchange (MCX) took a significant hit on August 25, as futures contracts for September delivery plummeted to Rs 2.43 lakh per kilogram.
The decline of Rs 903 represents a 0.37% drop in value, resulting from a sell-off by participants. This reduction in bets weighed heavily on silver prices, leading to the substantial decrease.
Globally, the white metal was trading at USD 68.22 per ounce in New York, marking a 1.04% decline. Analysts attribute this drop to the sell-off by participants on the MCX.