Silver futures drop 0.83% on global trend

Mumbai-India (Feb 25)   Amid weak global trend, silver prices dropped by 0.83 per cent to Rs 48,521 per kg in futures trade today.

At the Multi Commodity Exchange, silver for delivery in May dropped by Rs 405, or 0.83 per cent, to Rs 48,521 per kg in business turnover of 1,141 lots.

In a similar fashion, the white metal for delivery in March fell by Rs 382, or 0.80 per cent, to Rs 47,603 per kg in 7,183 lots.

Market analysts said a weak global trend mainly kept pressure on silver prices in futures trade.

Meanwhile, silver retreated 0.5 per cent to $21.86 an ounce in Singapore.