Amid a weakening trend overseas, silver prices dropped by Rs 193 to Rs 46,826 per kg in futures trade today as speculators cut down their bets.
Silver for delivery in March next year was trading lower by Rs 193, or 0.41 per cent, to Rs 46,826 per kg, in a business turnover of six lots in futures trading at the Multi Commodity Exchange (MCX).
The white metal for delivery in December lost Rs 138, or 0.30 per cent, at Rs 46,000 per kg, with a business turnover of 382 lots.
In the international market, silver traded 0.65 per cent lower at USD 19.08 an ounce in Singapore.
Market analysts said a weak trend in precious metals in global markets as precious metals hold decline before the Federal Reserve and the Bank of Japan announce their monetary policy decisions later in the day, kept pressure on silver futures.
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