Silver prices fell by Rs 63, or 0.22 per cent, to Rs 28,701 per kg in futures trading today on increased selling, influenced by a weakening global trend.
At the Multi Commodity Exchange platform, silver for September-month fell by Rs 63, or 0.22 per cent, to Rs 28,701 per kg, with an open interest of 15,372 lots.
Similarly, the metal for delivery in December traded lower by the same margin at Rs 28,820 per kg, with an open interest of 947 lots.
Market analysts said fresh selling in line with a weakening global trend was the main reason for the decline in silver prices at futures trade.
Meanwhile, silver traded lower by 0.84 per cent to $17.69 an ounce in Asian region.