Taking weak cues from overseas markets, silver prices were down by Rs 171 at Rs 47,360 per kg at the futures trade today as participants cut down their bets.

At the Multi Commodity Exchange, silver for delivery in far-month December was trading lower by Rs 17, or 0.36 per cent at Rs 47,360 per kg in a business turnover of six lots.

Similarly, the white metal for delivery in September declined by Rs 146 or 0.31 per cent to Rs 46,258 per kg in a business volume of 510 lots.

In the international market, silver fell 0.2 per cent to $19.545 an ounce in Singapore today.

Traders said the fall in silver prices at the futures trade was largely in tune with a weak trend in precious metals in global markets.

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