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Silver prices fell by 0.90% to Rs 46,321 per kg in futures trade today as participants trimmed their positions, tracking a weakening trend in precious metals overseas.
At the Multi Commodity Exchange, silver for delivery in May contracts fell by Rs 420, or 0.90%, to Rs 46,321 per kg in business turnover of 1,167 lots.
Similarly, the white metal for delivery in far-month July declined by Rs 419, or 0.88%, to Rs 47,221 per kg in business volume of 27 lots.
Market analysts attributed fall in silver prices at futures trade to off-loading of positions by speculators as better-than-estimated US factory production data curbed safe-haven demand before the Federal Reserve meeting today.
In the international market, silver fel by 1% to USD 20.97 an ounce in Singapore.
