Silver prices fell Rs 165 to Rs 56,353 per kg at the futures trade today as speculators offloaded their positions, tracking a weakening global trend.
At the Multi Commodity Exchange, silver for delivery in May fell Rs 165 or 0.29 per cent to Rs 56,353 per kg with a business turnover of 3,790 lots. Similarly, July contract lost Rs 155 or 0.27 per cent to Rs 57,999 per kg in 437 lots.
Market analysts attributed the fall in silver futures to a weakening global trend.
Meanwhile, the white metal dropped 0.2 per cent to $31.62 an ounce in Singapore.