Silver futures fell by 0.35 per cent on the Multi Commodity Exchange, tracking a sell-off by market participants. Globally, the white metal traded lower at $53.46 per ounce in New York.
Silver prices in futures trade recorded a decline on Thursday, falling by ₹673 to ₹1,93,652 per kilogram as market participants reduced their active bets.
On the Multi Commodity Exchange (MCX), silver contracts for December delivery dropped by ₹673, representing a 0.35 per cent decrease. The trading session saw a total business turnover of 985 lots for the precious metal.
Market analysts noted that a broad sell-off by participants was the primary factor weighing on domestic silver prices during the session.
In international markets, the white metal faced downward pressure as well. Silver was trading 0.95 per cent lower at $53.46 per ounce in New York.
"Commodity market fluctuations, such as the recent dip in silver futures, highlight the constant impact of participant sentiment and global pricing trends. For businesses and investors dealing in precious metals, monitoring both domestic exchange volumes and international benchmarks like the New York market is essential for effective risk management and strategic decision-making." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
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