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Silver prices were down by Rs 141 to Rs 40,337 per kg at the futures trade today as traders cut down their bets at prevailing levels, ignoring a firm trend overseas.
At the Multi Commodity Exchange, silver for delivery in far-month March next year fell by Rs 141 or 0.35 per cent to Rs 40,337 per kg in a business turnover of one lot. Similarly, the white metal for delivery in December was trading lower by Rs 130 or 0.33 per cent to Rs 39,669 per kg in 1,166 lots.
Market analysts attributed the weakness in silver futures to offloading of positions by speculators at prevailing levels but a firm trend in precious metals overseas, restricted the losses. Globally, silver traded 0.18 per cent higher at $17.08 an ounce in Singapore today.
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