NEW DELHI: Silver prices fell by Rs 227 to Rs 53,317 per kg in futures trade today as speculators reduced positions tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September declined by Rs 227, or 0.42 per cent, to Rs 53,317 per kg, with a business turnover of 1,616 lots.
Likewise, the white metal for delivery in December lost Rs 221, or 0.40 per cent, to Rs 54,958 per kg, with a business turnover of 62 lots.
Market analysts attributed the fall in silver futures to a weakening trend in global markets as a stronger dollar, which reached a two-year high, curbed demand for the precious metals as an alternative investment.
Meanwhile, silver traded 0.29 per cent lower at USD 27.26 in Singapore.
