Silver futures slump Rs 125 at Rs 45,420 per kg on weak global cues

Silver futures slumped by Rs 125 at Rs 45,420 per kg on Friday as participants cut down their bets in line with sluggish trend in overseas markets.

On the Multi Commodity Exchange, silver contracts for December delivery fell by Rs 125, or 0.27 per cent, at Rs 45,420 per kg in a business turnover of 3,006 lots.

Similarly, the white metal contracts for March next year traded lower by Rs 183, or 0.39 per cent, at Rs 45,306 per kg in a business volume of 18 lots.

In the international market, silver fell 0.27 per cent at USD 17.57 an ounce in New York.

Analysts said fall in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets