Silver down 0.8% on lower overseas trend

White metal for delivery in far March month declined by 0.6%

Silver prices fell by 0.85% to Rs 46,970 per kg in futures market today as speculators offloaded positions on a lower global trend.

At the Multi Commodity Exchange, silver for delivery in December month fell by Rs 402, or 0.85%, to Rs 46,970 per kg in business turnover of 2,797 lots.

Likewise, silver for delivery in far March month declined by Rs 304, or 0.62%, to Rs 48,350 per kg in 27 lots.

Analysts said speculators offloading their positions in line with a lower global trend mainly pulled down silver in futures market here.

Meanwhile, silver lost 0.7% to $21.26 an ounce in Singapore.