Silver futures fall on lower global trend

Tracking weakening global trend, silver futures prices dropped by Rs 525 to Rs 44,221 per kg in futures trade today on reduced offtake at existing higher levels.

At the Multi Commodity Exchange counter, silver for delivery in March dropped by Rs 525, or 1.17 per cent, to Rs 44,221 per kg, with a business turnover of two lots.

Likewise, the metal for delivery in May fell by Rs 514, or 1.14 per cent, to Rs 44,502 per kg, with a business turnover of two lots.

Market analysts apart from weakening trend in Asia, reduced offtake at existing higher levels, pulled down silver futures prices. 

Meanwhile, silver fell 0.7 per cent to $28.87 an ounce in Seoul.