Taking negative cues from the global market, silver prices moved down by 0.48 per cent to Rs 39,728 per kg in futures trade today as speculators cut down their bets.
At the Multi Commodity Exchange, silver for delivery in September fell by Rs 193 or 0.48 per cent to Rs 39,728 per kg in business turnover of 527 lots.
Likewise, the white metal for delivery in July contracts declined by Rs 153 or 0.39 per cent to Rs 39,075 per kg in 80 lots.
Analysts said the slide in silver prices was mostly due to off-loading of positions by participants in line with a weak trend in global markets.
Meanwhile, silver fell 0.50 per cent to USD 16..01 an ounce in Singapore.
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