Silver prices fell by 0.29% in futures trade today as speculators reduced their positions amid a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September declined by Rs 163, or 0.29%, to Rs 55,117 per kg, with a business turnover of 180 lots.
Similarly, the shiny metal for July delivery also fell by Rs 154, or 0.28%, to Rs 54,433 per kg in 2,990 lots.
Analysts attributed the decline in silver futures prices to offloading of positions by speculators, taking cues from a weak trend in Asian trading.
In the Asian region, silver was trading 0.11% lower at $36.36 an ounce.
