NEW DELHI: Tracking a weak global trend ahead of the US Federal Reserve releases minutes from its last meeting, silver prices drifted by 0.46 per cent to trade at Rs 51,514 per kg in futures trade today as speculators engaged in reducing exposures.
At the Multi Commodity Exchange, silver for delivery in far-month December traded Rs 240, or 0.46 per cent lower at Rs 51,514 per kg in business turnover of 309 lots.
In a similar fashion, the white metal for delivery in September traded Rs 171, or 0.34 per cent lower, at Rs 50,288 per kg in 5,442 lots.
Market analysts said the fall in silver prices at futures trade was mostly attributed to a weak trend overseas with investors awaiting minutes from the US central bank's July policy meeting for clues on when it will begin scaling back its commodities-friendly stimulus steps.
Meanwhile, silver fell by 0.93 per cent to $22.81 an ounce in Singapore today.
