Taking negative cues from the
global market, silver prices drifted lower by 0.06 per cent to Rs 40,270 per kg in futures trade in futures trade today as speculators cut down their bets.
At the Multi Commodity Exchange, silver for delivery in far-month September fell by Rs 26, or 0.06 per cent to Rs 40,270 per kg in business turnover of 21 lots.
Likewise, the white metal for delivery in July shed Rs 22, or 0.06 per cent to Rs 39,618 per kg in 203 lots.
Analysts said the slide in silver prices was mostly due to off-loading of positions by participants and a weak trend in global markets.
Meanwhile, silver fell 0.49 per cent to USD 16.19 an ounce in Singapore.
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