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Silver prices declined by Rs 203 to Rs 55,220 per kg in futures trading on Wednesday largely in line with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, silver for delivery in September declined by Rs 203, or 0.37 per cent, to Rs 55,220 per kg in business turnover of 80 lots.
Likewise, the metal for delivery in the July contract shed Rs 171, or 0.32 per cent, to Rs 53,793 per kg in 1,607 lots.
Market analysts said weak trend in overseas market, as concerns that the debt crisis in Europe is escalating strengthened the dollar - reducing demand for the precious metals - weighed on the silver futures prices here. Besides, slackened demand at spot markets, too, had a negative impact, they said.
Meanwhile, silver fell for the third day, falling as much as 0.6 per cent to $27.70 an ounce in Singapore.
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