Silver slides Rs 2,577 to Rs 2.38 lakh/kg in futures trade

Silver prices plunged Rs 2,577 to Rs 2.38 lakh per kilogram in the national capital on Friday, tracking weak trends and subdued demand by investors.

On the Multi Commodity Exchange, the white metal for May delivery depreciated by Rs 2,577, or 1.07 per cent, to Rs 2,38,936 per kg.

Analysts said silver prices fell in line with losses in international markets.


In the overseas trade, Comex silver futures for the May contract slipped 1.26 per cent to USD 74.55 per ounce in New York.

According to analysts, market participants said weakness in the global benchmark and cautious sentiment in commodities weighed on silver prices.