Silver prices moved down by Rs 413 to Rs 54,169 per kg in futures trading today on reduced offtake by traders on the back of sluggish demand in the spot market amid a weak global trend.
At the Multi Commodity Exchange, March silver fell Rs 413, or 0.76% to Rs 54,169 per kg in business turnover of 5910 lots.
The May delivery declined by Rs 394, or 0.70% to Rs 55,540 per kg in 1862 lots.
Market analysts said besides reduced offtake by traders on sluggish demand in the spot market, weak global trend mainly kept pressure on silver prices at futures trade.
Meanwhile, silver fell 0.6% to $29.23 an ounce in Singapore.
