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Tracking a weak trend overseas, silver prices fell sharply by Rs 319 to Rs 40,151 per kg in futures trade today as speculators engaged in off-loading positions.
In futures trading at the Multi Commodity Exchange, silver for delivery in June contracts lost Rs 319, or 0.79%, to Rs 40,151 per kg, with a turnover of 1,085 lots.
Also, the white metal for delivery in far-month September was trading Rs 302, or 0.74% down at Rs 40,695 per kg in business turnover of 27 lots
Marketmen said a weak trend in global markets before the Federal Reserve releases minutes of its latest meeting and investors assess economic data for clues on when interest rates will rise, weighed on silver futures here.
Globally, silver dropped 1.2% to $17.50 an ounce in Singapore today.
