Silver prices fell from record by Rs 182, or 0.61 per cent to Rs 29,945 per kg in futures trade today on heavy selling by speculators, driven by fall in demand at existing higher levels.
Weakening trend in global markets also influenced the silver prices at futures trade.
At the Multi Commodity Exchange, silver for December contract tumbled by Rs 182, or 0.61 per cent to Rs 29,545 per kg, with an open interest of 385 lots.
Similarly, the metal for delivery in July contract dropped by Rs 103, or 0.35 per cent, to Rs 29,448 per kg, with an open interest of 11,648 lots.
Marketmen said heavy selling by speculators due to fall in demand at existing higher levels amid weakening trend in the Asian region pulled down silver prices at futures market here.
Meanwhile, silver fell 0.4 per cent to $18.68 an ounce in Asian region.
