Silver futures fall Rs 722 to Rs 34,731 per kg

New Delhi, Mar 18 () Silver futures on Wednesday plunged Rs 722 to Rs 34,731 per kg as participants cut down their bets taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 722, or 2.04 per cent, to Rs 34,731 per kg in a business turnover of 6,201 lots.

Besides, the white metal to be delivered in July fell by Rs 714, or 1.99 per cent, to Rs 35,228 per kg in 443 lots.

In the international market, silver prices traded 0.12 per cent lower at USD 12.48 an ounce in New York.

Analysts said weak trend overseas mainly kept pressure on silver prices here. VHP SHWSHW