India, June 19 -- Silver futures extended their decline on Friday, falling 4% as uncertainty surrounding the proposed US-Iran peace agreement and weakness in global markets dampened investor sentiment.
On the Multi Commodity Exchange (MCX), silver contracts for July delivery declined by Rs 8,766, or 4%, to Rs 2,28,806 per kg, with a trading volume of 11,080 lots.
The precious metal had already witnessed a sharp correction in the previous session, tumbling Rs 14,235, or 5.7%, to settle at Rs 2.37 lakh per kg, compared with Rs 2.51 lakh per kg in the preceding session.
Analysts attributed the continued weakness to profit-booking and heightened uncertainty in global markets, which weighed on demand for precious metals.
Published by HT Digi...