Commodities
Silver Futures Crash By Rs 6,477 To Rs 2.28 Lakh Per Kg
Silver futures prices plummeted in India on Monday, falling by Rs 6,477 to Rs 2,28,219 per kilogram in futures trade. The decline came amid selling by participants, who reduced their bets on the white metal.
The Multi Commodity Exchange saw silver contracts for December delivery drop by 2.76 percent, resulting in a business turnover of 3,501 lots. This significant sell-off weighed heavily on silver prices, causing them to plummet.
Globally, silver was trading at USD 61.66 per ounce in New York, down 4.09 percent from the previous day's price. The sharp decline in global prices likely contributed to the drop in Indian futures trade as well.