Silver futures lost 0.15% to Rs 53,836 per kg today, as speculators reduced their positions, tracking a weakening trend overseas on concern Europe's debt crisis may escalate and weigh on global growth.
At the Multi Commodity Exchange, May silver fell by Rs 80, or 0.15%, to Rs 53,836 per kg, with a business turnover of 38 lots.
The March delivery lost Rs 73, or 0.14%, to Rs 52,638 per kg, with a trade volume of 994 lots.
Analysts said offloading of positions by speculators in tandem with a weak trend in Asia on concern that an escalation of Europe's debt crisis may weigh on global growth amid slowing demand in China, weighed on the silver futures prices here.
Meanwhile, silver fell by 0.3% to $28.61 an ounce in Singapore in early trade today.