Silver futures fall from record on reduced offtake

Silver prices fell from record by losing Rs 304, to Rs 46,280 per kg in futures trading today on reduced offtake at existing higher levels.

At the Multi Commodity exchange counter, silver for delivery in March fell by Rs 304, or 0.65 per cent, to Rs 46,280 per kg, with a business turnover of four lots.

Similarly, the metal for delivery in May declined by Rs 297, or 0.63 per cent, to Rs 46,540 per kg, with an open interest of just one lot.

Market analysts said reduced offtake at existing higher levels pulled down silver prices from record high levels in the futures trade.