Silver futures weaken on lower Asian trend

Silver prices fell by Rs 495 to Rs 52,910 per kg in futures market today, as speculators offloaded their positions, due to a weakening trend in the Asian region.

At the Multi Commodity Exchange, February silver fell by Rs 495, or 0.93%, to Rs 52,910 per kg, with a business turnover of 5,861 lots.

Analysts said speculators reduced their positions on the back of a weak trend in Asian region, which led to the decline in silver prices at futures trade.

Meanwhile, silver fell by 0.68% to $31.94 an ounce in Singapore.