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Silver prices fell Rs 408 to Rs 37,987 per kg at the futures trade today as speculators reduced their exposures amid a weak trend overseas.
On the Multi Commodity Exchange, silver for delivery in May traded lower by Rs 408 or 1.06 per cent to Rs 37,987 per kg in a business turnover of 472 lots.
Similarly, the white metal for delivery in July declined by Rs 365 or 0.94 per cent to Rs 38,448 per kg in a business volume of three lots.
In the international market, silver lost 0.2 per cent at $16.91 an ounce in Singapore.
Market analysts said a weak trend in precious metals in the global markets, after Federal Reserve Chair Janet Yellen signalled that the US central bank may be on course to raise interest rates later this year, kept pressure on silver futures here.
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