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Silver prices moved down by 0.22 per cent to Rs 40,160 per kg at the futures trade today as traders cut down their bets in line with a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in far-month March next year fell Rs 89 or 0.22 per cent to Rs 40,160 per kg in a business turnover of 48 lots. Likewise, the white metal for delivery in December was trading lower by Rs 79 or 0.20 per cent at Rs 39,490 per kg in 389 lots.
Market analysts offloading of positions by speculators in tandem with a weak trend overseas, mainly influenced silver prices at the futures trade.
Globally, silver traded 0.29 per cent lower at $17.08 an ounce in Singapore today.
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