Silver prices fell steeply by Rs 184, or 0.46 per cent, to Rs 40,255 per kg in futures trade Friday as participants cut down bets, in tandem with a muted trend overseas.
At the Multi Commodity Exchange, silver for delivery in March fell by Rs 184, or 0.46 per cent, to Rs 40,255 per kg in a business turnover of 15,053 lots.
Similarly, the white metal for delivery in far-month May, too, edged down by Rs 70, or 0.17 per cent, to Rs 40,976 per kg in 3,025 lots.
Analysts said off-loading of positions by participants at current levels led to fall in silver prices at futures trade here. A tepid trend in the precious metal overseas aided the losses.
Globally, silver prices slumped 0.61 per cent to USD 15.92 an ounce in Singapore.
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