Silver Futures Drop to Rs 2.43 Lakh on MCX

Silver futures closed at Rs 2,43,645 per kilogram on the Multi Commodity Exchange. The price dropped by Rs 568 during the session. This represents a 0.23 percent decline for December delivery contracts. Trading volume remained low with 1,262 lots exchanged. Market participants reduced their positions during the session.

Analysts cited reduced betting activity as the primary driver of the decline. Selling pressure outweighed buying interest in the domestic market. The move isolated domestic prices from global trends. Spot silver in New York moved in the opposite direction. The white metal gained 0.50 percent to reach USD 67.63 per ounce.

Domestic Trading Volume Remains Low

The total business turnover for the session was 1,262 lots. This figure reflects limited participation in the exchange. Traders appeared cautious regarding short-term price movements. The reduction in bets led to the observed price correction. No significant news events triggered the sell-off.

Global Spot Prices Stay Firm

International markets showed resilience despite domestic weakness. Silver traded higher in New York during the same period. The global price hit USD 67.63 per ounce. This contrasts with the drop seen on the MCX. The divergence highlights different sentiment in local versus global venues.

Market Sentiment Shifts Cautiously

Participants adjusted their exposure to silver positions. The data comes from GN auto markets and commodities reports. The shift indicates a pause in aggressive buying. Traders wait for clearer directional signals. The market remains sensitive to macroeconomic data releases.