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Silver prices moved down by 0.48% to Rs 46,510 per kg in futures market today as speculators reduced their holdings on the back of a weak global trend.
At the Multi Commodity Exchange, silver for delivery in March moved down by Rs 222, or 0.48%, to Rs 46,510 per kg in business turnover of 361 lots.
Likewise, the white metal for delivery in December traded lower by Rs 205, or 0.45%, to Rs 45,130 per kg in 3,106 lots.
Analysts said speculators reduced their holdings on the back of a weak global trend as investors weighed comments from Fed policy makers about the outlook for stimulus amid a rally in equities mainly put pressure on silver prices at futures trade.
Meanwhile, silver lost 0.8% to $20.24 an ounce, the lowest since August 9 in Singapore.
