Silver drops for second day in India

                   Indian silver prices dropped for the second staright day Tuesday following global trends.

Analysts also attributed the losses to speculators trimming their positions

On the Multi Commodity Exchange (MCX) Silverfor delivery in May traded by Rs 181, or 0.33 per cent, to Rs 54,031 per kg in business turnover of 1,586 lots.

Similarly, the white metal for delivery in July declined by Rs 177, or 0.32 per cent, to Rs 55,203 per kg in business volume of 111 lots.

In the international market, silver traded lower at $ 28.81 an ounce in Singapore.

Market analysts said a subdued trend in precious metals in the global markets as Cyprus's bailout plan hurting demand for the safe haven, led to fall in silver prices at futures trade here.

Courtesy : Bullionstreet