Taking negative cues from the global market, silver prices drifted lower by 0.29 per cent to Rs 40,622 per kg in futures trade today as speculators cut down their bets.
At the Multi Commodity Exchange, silver for delivery in far-month December declined by Rs 117, or 0.29 per cent, to Rs 40,622 per kg in a business turnover of 5 lots.
Similarly, the white metal for delivery in September contracts was trading lower by Rs 99, or 0.25 per cent, to Rs 39,782 per kg in 441 lots.
Analysts said, the fall in silver prices was mostly due to off-loading of positions by participants in tandem with a weak trend overseas ahead of tariff deadline, US jobs data.
Meanwhile, silver fell by 0.22 per cent to USD 15.99 an ounce in Singapore.
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