Silver prices fell by Rs 571 to Rs 58,617 per kg in futures trade today as speculators locked-in gains at existing levels amid weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September, traded Rs 571, or 0.96 per cent, lower at Rs 58,617 per kg, with a turnover of 160 lots.
Similarly, silver for delivery in December dropped by Rs 512, or 0.84%, to Rs 60,128 per kg, after rising to Rs 61,850, with a business turnover of 236 lots.
Analysts said besides profit-booking by speculators at current higher level, weak trend in the global markets also put pressure on the silver futures prices here.
Meanwhile, silver fell by 0.38% to $38.88 an ounce in Hong Kong in early trade today.
