Silver prices fell sharply in futures trade today as bullion traders reduced their positions amidst a weak global trend.
At the Multi Commodity Exchange (MCX), silver for delivery in May was trading at Rs 37,440 down Rs 349, or 0.92 percent. Prices touched an Intraday session high of Rs 37721 and an Intraday session low of Rs 37353. So far on MCX 1963 futures contracts have been traded.
Similarly, July contract was trading at Rs 37869 down Rs 370, or 0.97 percent. So far 90 futures contracts have been traded.
Meanwhile, silver futures May delivery dropped 21.0 cents, or 1.24%, to trade at $16.67 a troy ounce. The May silver futures contract gained $1.25, or 8.96%, last week, the first weekly gain in three weeks.