India, March 11 -- Silver prices plunged in futures trade on Wednesday as a strengthening US dollar weighed on the precious metal despite prevailing geopolitical tensions in West Asia.
On the Multi Commodity Exchange of India, silver contracts for May delivery slumped by Rs 4,269, or 1.54%, to Rs 2,73,581 per kilogram, with a business turnover of 5,839 lots.
Analysts said the white metal remained under pressure as investors shifted their focus towards the US dollar, which typically impacts demand for non-yielding assets such as precious metals.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....