Silver prices dipped 1.22 per cent in the afternoon trade on Multi Commodity Exchange (MCX) on lack of any buying support amid a weak global trend.
At 1300 hrs on the MCX, the precious metal for the July month contract fell by 1.22 per cent to Rs 21,340 per kg, recording a business volume of 760 lots.
Silver for delivery in May was down 1.21 per cent to Rs 21,200 per kg in a business volume of 3,140 lots.
Selling pressure gathered momentum following a weakening trend in the overseas markets as a rally in the dollar against leading currencies eroded demand for the precious metals as alternate investment.
Meanwhile, silver in the Asian region melted by 1.6 per cent to $12.71 an ounce.