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Silver prices declined 0.58 per cent to Rs 64,390 a kg in the futures trade today as speculators reduced their positions amid weak Asian trend.
On the Multi Commodity market, silver for delivery in March contract fell Rs 376, or 0.58 per cent to Rs 64,390 per kg in a business turnover of 61 lots.
The white metal for December month contract lost 362, or 0.57 per cent to Rs 62,895 per kg in a business volume of 2,213 lots.
Marketmen attributed fall in silver futures prices to a weakening trend in the precious metals in the Asian region as easing concerns about Europe’s debt crisis cut demand for the metals as an alternative asset and boosted equities.
In addition, fall in demand at existing level at domestic spot markets also put some pressure on the prices, they said.
Meanwhile, silver in Singapore fell 1.05 per cent to $39.49 an ounce.
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