Silver falls 0.34% on lower global trend

Weak rupee restricted the fall

Silver futures prices fell by Rs 187 to Rs 55,319 per kg today as speculators offloaded their positions on the back of weak global trend.

At the MCX, silver for delivery in September fell by Rs 187, or 0.34%, to Rs 55,319 per kg in business turnover of 609 lots.

The July contract declined by Rs 164, or 0.30%, to Rs 53,966 per kg in 15,548 lots.

Market analysts said speculators offloaded their positions on the back of weakening global trend, mainly pulled down silver prices at futures market.

Meanwhile, silver fell 0.3% to $28.37 an ounce in Singapore.