Silver prices declined by Rs 203 to Rs 55,220 per kg in futures trading today largely in line with a weakening trend overseas amid subdued spot demand.
At the MCX, silver for delivery in September declined by Rs 203, or 0.37%, to Rs 55,220 per kg in business turnover of 80 lots.
The July contract shed Rs 171, or 0.32%, to Rs 53,793 per kg in 1,607 lots.
Market analysts escalation concerns that the debt crisis in Europe is deepening strengthened the dollar -- thus, reducing demand for the precious metals -- weighed on the silver futures prices here.
Besides, slackened demand at spot markets, too, had a negative impact, they said.
Silver, on the Singapore exchange, fell for the third day, falling as much as 0.6% to $27.70 an ounce in Singapore.
