Silver Prices Plummet to Rs 2.31 Lakh/kg Amidst Global Decline

Silver futures prices have plummeted to a low of Rs 2.31 lakh per kilogram on the Multi Commodity Exchange, as participants reduced their bets.

The decline was a result of a sell-off by market players, causing silver contracts for December delivery to drop by Rs 1,411, or 0.61 percent, in a business turnover of 1,512 lots.

Globally, the white metal was trading 0.27 percent down at USD 63.05 per ounce in New York, which may have contributed to the decline in prices.