MCX Silver prices declined sharply in trading futures on Tuesday amid a weak global trend and profit-booking by speculators.
On Tuesday amid a modest recovery in the US dollar in the last trading day in March, like the precious metal posted its second straight monthly loss.
On the Multi Commodity Exchange, silver for delivery in May tumbled by Rs. 305 or 0.81 per cent to Rs. 37,161 per kg. Silver touched an Intraday high of Rs 37336 and an Intraday low of Rs 37118. So far 1745 futures contracts have been traded in MCX.
Elsewhere, silver futures for May delivery fell slightly by 0.066 or 0.40% to 16.608 a troy ounce.
Market analysts said the precious metal falls slightly on Tuesday with a weak global trend amid the dollar moved slightly higher upon strong consumer sentiment.