Silver prices fell Rs 176 to Rs 52,591 per kg at the futures trade today as speculators reduced positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 176 or 0.33 per cent to Rs 52,591 per kg with a business turnover of 1,516 lots.

Likewise, the white metal for delivery in December lost Rs 173 or 0.16 per cent to Rs 54,288 per kg with a business turnover of 143 lots.

Market analysts attributed the fall in silver futures to a weakening trend in global markets as a stronger dollar reduced the demand for the precious metals as an alternative investment.

Meanwhile, the white metal traded 0.4 per cent lower at $27.33 in early trade today in Singapore.

(This article was published on July 16, 2012)
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