Amid weak trend overseas, silver prices softened by 1.33% to Rs 55,587 per kg in futures trading today after speculators reduced their positions.
At the Multi Commodity Exchange, silver for delivery in September declined by Rs 749, or 1.33% to Rs 55,587 per kg, with a business turnover of 381 lots.
Similarly, the white metal for delivery in July fell by Rs 725, or 1.30% to Rs 54,847 per kg in 10,559 lots.
Analysts attributed the decline in silver futures prices to reducing of positions by speculators taking cues from weak trend in Asian trading.
Meanwhile, in the Asian region, silver traded 1.78% lower at USD 36.48 an ounce.
