Amid weak global cues, silver prices fell by 0.41 per cent to Rs 40,892 per kg in futures market today as speculators reduced holdings.
At the Multi Commodity Exchange, silver for delivery in far-month September declined by Rs 167, or 0.41 per cent, to Rs 40,892 per kg in business turnover of 41 lots.
Likewise, the white metal for delivery in July contracts was trading lower by Rs 32, or 0.08 per cent, to Rs 39,505 per kg in 1,282 lots.
Market analysts said cutting down of positions by traders in tandem with a weak trend in precious metals in the global markets weighed on silver prices in futures trade.
Globally, silver fell 0.12 per cent to USD 16.36 an ounce in Singapore.
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