Silver futures fall below Rs 42k level,tumble 6 per cent

At the Multi Commodity Exchange,silver for delivery in July slipped below Rs 42,000 level by falling Rs 2,637,or nearly 6 per cent,to Rs 41,317 per kg,with a turnover of 58,551 lots.

Similarly,silver for delivery in September contracts crashed by Rs 2,657,or 5.98 per cent,to trade at Rs 41,750 per kg,with a business turnover of 5,262 lots.

Analysts said sentiments dampened as the precious metals dropped in the global markets after Federal Reserve Chairman Ben S Bernanke said asset purchases may be reduced later this year as the US economy recovers.

Meanwhile,in London,silver tumbled 6.86 per cent to USD 19.98 an ounce.