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Silver prices declined 0.89 per cent to Rs 38,949 per kg at the futures trade as speculators trimmed their bets in line with a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 351 or 0.89 per cent to Rs 38,949 per kg in a business turnover of 1,426 lots. Similarly, the metal for delivery in May was trading lower by Rs 334 or 0.84 per cent at Rs 39,436 per kg in 16 lots.
Traders said offloading of positions by participants in tandem with a weak trend overseas, mainly influenced silver prices at the futures trade. Globally, silver fell 0.61 per cent to $17 an ounce in Singapore.
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