Silver futures plunge Rs 1,479 on weak global cues

New Delhi, Mar 9 () Silver futures on Monday plunged Rs 1,479 to Rs 45,490 per kg as participants cut down their bets taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 1,479, or 3.15 per cent, to Rs 45,490 per kg in a business turnover of 10,116 lots.

Besides, the white metal to be delivered in July fell by Rs 1,569, or 3.3 per cent, to Rs 45,907 per kg in 373 lots.

In the international market, silver prices traded 3.67 per cent lower at USD 16.63 an ounce in New York. VHP RUJRUJ