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Tracking a weak global trend, silver prices fell by Rs 850 to Rs 40,736 per kg in futures trade today as speculators trimmed their positions.
At the Multi Commodity Exchange, silver for delivery in July plunged by Rs 850, or 2.04%, to Rs 40,736 per kg in business turnover of 16,065 lots.
Similarly, silver for delivery in September lost Rs 857, or 2.04%, at Rs 41,221 per kg in 1,704 lots.
Market analysts said speculators offloaded their holdings following a weak global trend mainly pulled down silver prices at futures trade.
Meanwhile, silver dropped 2.8% to $19.55 an ounce in Singapore.
