Silver prices softened by Rs 91 to Rs 54,358 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 91, or 0.17% to Rs 54,358 per kg, in business turnover of 207 lots.
In a similar fashion, the white metal for delivery in July shed Rs 33, or 0.06% to Rs 53,711 per kg in 4,282 lots.
Analysts attributed the decline in silver futures prices to reducing of positions by speculators amid fall in demand at prevailing high levels in the spot market.