Silver futures slip on reduced offtake

Silver futures for March fell Rs 413, or 0.76% to Rs 54,169 per kg in 5,910 lots.

At the Multi Commodity Exchange (MCX), the May contract declined by Rs 394, or 0.70% to Rs 55,540 per kg in 1,862 lots.

Reduced offtake by traders on the back of sluggish spot market demands affected the trade.

Weak global trend kept pressure on silver futures trade here.

In Singapore, silver fell 0.6% to $29.23 an ounce.