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Silver prices softened by 0.50 per cent to Rs 40,431 per kg at the futures trade as participants trimmed their positions owing to a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in May fell Rs 204 or 0.50 per cent to Rs 40,431 per kg in a business turnover of 338 lots. Similarly, the white metal for delivery in July lost Rs 193 or 0.47 per cent to Rs 41,024 per kg in 15 lots.
Traders attributed the drop in silver prices at the futures trade to offloading of positions by participants in line with a weak trend in precious metals in the global market. Globally, silver declined 0.35 per cent to $17.16 an ounce in Singapore.
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