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Commodities

Silver Prices Plummet on Reduced Bets and Sell-Off

Guavy AI Editorial Team
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Silver
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Silver prices took a hit in futures trade as participants reduced their bets. The price of Silver fell by Rs 1,955 to Rs 2,40,489 per kilogram. This decline occurred despite global silver prices trading 1.04% lower at $68.22 per ounce in New York.

The December delivery contracts for silver futures saw a decrease of 0.81% in a business turnover of 2,004 lots. Analysts attributed the sell-off by participants to be the main factor weighing on silver prices.

Globally, silver was trading down due to lower bets by participants in futures trade. The MCX Silver price saw a significant drop due to reduced bets.

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