Silver prices declined by Rs 74 or 0.25 per cent to Rs 29,093 per kg in futures trade today on reduced offtake at existing higher levels.
At the Multi Commodity Exchange, silver for July-month contract fell by Rs 74, or 0.25 per cent to Rs 29,093 per kg, with an open interest of 12,061 lots.
Similarly, the metal for delivery in September contract traded lower by the same margin at Rs 29,195 per kg, with a business volume of 1,509 lots.
Marketmen said reduced offtake at existing higher levels and reports of a weakening trend in global markets mainly helped silver prices to trade lower at futures trade.
Meanwhile, silver lost 0.4 per cent to $18.095 an ounce in the Asian region after jumping 4.1 per cent yesterday.
