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Silver prices drifted by 0.27% to trade at Rs 55,110 per kg in futures trade today as speculators engaged in reducing exposures.
At the Multi Commodity Exchange, silver for delivery in far-month December traded Rs 150, or 0.27% lower at Rs 55,110 per kg in business turnover of 1,860 lots.
In a similar fashion, silver for delivery in September fell by Rs 102, or 0.19% lower, at Rs 53,110 per kg in 1,869 lots.
Market analysts said the fall in silver prices at futures trade was mostly attributed to a weak trend overseas as prospects for an attack against Syria receded, and on bets the US Federal Reserve will start to pare stimulus as the economy improves, reducing demand for the precious metal.
Meanwhile, silver fell by 1.90% to $23.08 an ounce in Singapore.
