Commodities
Silver Futures Prices Plummet on MCX Amid Participant Sell-Off
Silver futures prices on the Multi Commodity Exchange (MCX) dropped by Rs 476 to Rs 2,34,310 per kilogram due to a participant sell-off. The decline was observed in December delivery contracts. Analysts attribute the price drop to market participants reducing their bets.
Globally, silver also traded lower at USD 64.870 per ounce in New York. The white metal saw a minor dip of 0.08% in global markets. On the MCX, business turnover reached 12,785 lots for December delivery contracts.