Amid weak trend overseas and subdued spot demand, silver prices moved down by Rs 290 to Rs 54,193 per kg at the futures trade today.
At the Multi Commodity Exchange, silver for delivery in July fell Rs 290 or 0.53 per cent to Rs 54,193 per kg with a business turnover of 1,877 lots. Similarly, the metal for delivery in September lost Rs 298 or 0.53 per cent, to Rs 55,582 per kg with a business turnover of 62 lots.
Globally, silver prices fell 0.5 per cent to $ 27.76 an ounce at midday today in Singapore.
Marketmen attributed the fall in silver futures prices to a weakening trend overseas as fresh Euro zone worries drove investors to seek the dollar as a safe haven over the precious metals.