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Silver dipped by Rs 402 to Rs 53,546 per kg in futures trading today as speculators reduced their positions due to a weakening global trend.
At the Multi Commodity Exchange, silver for delivery in July dipped by Rs 402 or 0.75 per cent to Rs 53,546 per kg with a business turnover of 10,401 lots.
Similarly, the metal for delivery in September plunged by Rs 380 or 0.69 per cent to Rs 54,400 per kg with an open interest for 540 lots.
Market analysts said speculators offloaded their positions, driven down by a weakening global trend, led to fall in silver futures prices.
Meanwhile, silver fell by 0.5 per cent to $35.57 an ounce in the Asian region.
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