Silver futures prices hit below Rs 45k mark,tumble 10%

At the Multi Commodity Exchange,silver for delivery in May slipped below Rs 45,000 level by falling Rs 4,890,or 10 per cent,to Rs 44,011 per kg,with a turnover of 89,857 lots.

Similarly,silver for delivery in far-month July contracts crashed by Rs 4,987,or 10.00 per cent,to hit a lower circuit at Rs 44,890 per kg,with a business turnover of 5,624 lots.

Analysts said a weak trend in global markets,as investors reduced holding on hopes that demand for safe haven assets would decline as the global economy improves,influenced silver futures here.

Meanwhile,in London,,silver tumbled 10.52 per cent to USD 23.13 an ounce,the lowest level since November 2010.