Silver prices fell by 1.14 per cent in futures trade today on selling by traders and speculators, following a weakening trend in overseas markets.
Silver for the most-active July-month contract fell by 1.14 per cent to Rs 22,750 per kg on the Multi Commodity Exchange. It clocked a business volume of 44 lots.
A similar weakness was extended to the May-month contract, which shed 1.11 per cent to Rs 22,573 per kg in trading of 2,559 lots.
Traders attributed the fall in silver prices to the weakening trend in the global market and reduced offtake in the spot market.
The metal in New York fell by 6.5 cents, or 0.5 per cent, to $13.775 an ounce yesterday.