Silver prices moved down by Rs 413 to Rs 54,169 per kg at the futures trading today on reduced offtake by traders on the back of sluggish demand in the spot market amid a weak global trend.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 413 or 0.76 per cent to Rs 54,169 per kg in a business turnover of 5,910 lots.
Likewise, the white metal for delivery in May declined by Rs 394 or 0.70 per cent to Rs 55,540 per kg in 1,862 lots.
Market analysts said besides reduced offtake by traders on sluggish demand in the spot market, a weak global trend mainly kept pressure on silver prices at the futures trade.
Meanwhile, the white metal fell 0.6 per cent to $29.23 an ounce in Singapore.