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Silver futures slip 9%; trades below Rs 45,000

Silver futures slip 9%; trades below Rs 45,000
Silver futures slipped below Rs 45,000 mark on Monday tracking global trend and other precious metals.

Silver for the latest month slipped Rs 4,4001 per kg to Rs 44,500 per kg on the Multi Commodity Exchange at 3.41 pm IST.

Silver is used as the raw material for the manufacture of jewellery and silverware. Silver is used in many other industries like manufacturing, electrical and electronics, pharmaceutical and food industry which makes the demand highly desirable for investors.

Unlike gold which is valued more as an investment, silver is valued as a commodity also along with an investment

Delhi spot silver of 99.9% purity was seen at Rs 48,000 per kgs. The dip in prices may attract many buyers ahead of wedding season in India.

Read more about: silver futures mcx
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