Tracking weak trend in precious metals in Asian region, silver prices fell by over one per cent in futures trading today as speculators reduced their positions.
At the Multi Commodity Exchange, silver for delivery in July declined by Rs 591, or 1.09%, to Rs 53,856 per kg, with a business turnover of 6,998 lots.
September silver shed Rs 685, or 1.06%, to Rs 54,619 per kg in 357 lots.
Analysts attributed the decline in silver futures prices to reducing of positions by speculators, after the white metal weakened in the Asian region.
Meanwhile, silver shed 1.08% to $35.81 an ounce in the Asian region.