Silver futures prices drifted by 0.65% to Rs 56,469 per kg today, after traders reduced their positions amid a weak trend in global markets.
On the Multi Commodity market, silver for March contract fell by Rs 371, or 0.65%, to Rs 56,469 per kg, with a business turnover of 16,179 lots.
The white metal for delivery in May lost Rs 299, or 0.53%, to Rs 57,748 per kg, with a business volume of 413 lots.
Market analysts attributed the fall in silver prices at futures trade to a subdued trend in overseas markets after Standard & Poor's said that it may cut the credit ratings of 15 European nations as the region's debt crisis is continuing to escalate.
Meanwhile, silver in Singapore fell 0.6% to $31.98 an ounce in early trade today.
