Silver prices on the Multi Commodity Exchange (MCX) took a hit on Tuesday, falling by ₹3,576 or 1.62% to ₹2,17,597 per kilogram in the September delivery contract.
The decline was due to participants reducing their bets, with analysts attributing the sell-off as the main reason for the price drop.
Globally, silver prices were trading at $57.22 per ounce in New York, down 1.95% from previous levels.
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