After rising to record high, silver prices fell by Rs 157 to Rs 32,621 per kg in futures trade today on speculators booking profits at existing higher levels influenced by a weakening global trend.
Trading sentiment turned bearish as the metal in overseas markets, which normally set prices in domestic markets here, fell from 30-year high as firm dollar erode demand for silver as an alternate investment.
At the Multi Commodity Exchange platform, silver for March-month dropped by Rs 157, or 0.48 per cent, to Rs 32,621 per kg, with a business turnover of 4 lots.
Similarly, the metal for delivery December fell by Rs 153, or 0.47 per cent to Rs 32,507 per kg in just single lot.
Meanwhile, silver dropped 0.8 per cent to $21.24 an ounce in Asian region after yesterday rising to $21.61, the highest level since October 1980.
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