Silver Futures Plummet 0.23% on Reduced Bets

Silver futures declined in trading on Wednesday, July 25, as market participants reduced their bets. The price of silver per kilogram dropped by Rs 508 to Rs 2,18,867 in futures trade. Silver contracts for September delivery fell 0.23% in a business turnover of 1,084 lots.

Analysts attributed the decline in silver prices to a sell-off by participants. Globally, the white metal was trading at $57.46 per ounce in New York, down 0.23% from its previous value.