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Silver prices drifted lower by Rs 147 to Rs 40,783 per kg at the futures trade today as participants trimmed their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in far-month March next year fell Rs 147 or 0.36 per cent to Rs 40,783 per kg in a business turnover of 19 lots. Similarly, the white metal for delivery in December was trading lower by Rs 107 or 0.27 per cent to Rs 40,220 per kg in 590 lots.
Analysts attributed the fall in silver futures to a weak trend in precious metals in overseas markets and profit-booking by participants at existing levels.
Meanwhile, silver shed 0.03 per cent to $17.10 an ounce in Singapore.
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