Silver prices fell by Rs 123 to Rs 58,310 per kg in futures trading today as speculators reduced their positions, taking cues from weak global markets.
At the Multi Commodity Exchange, silver for delivery in September declined by Rs 123, or 0.21%to Rs 58,310 per kg, with a business turnover of 87 lots.
In a similar fashion, the white metal for delivery in July shed Rs 84, or 0.15% to Rs 57,707 per kg in 3,668 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, in the Asian region, silver shed 0.03% to %38.06 an ounce.