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Silver prices traded lower by 0.07 per cent at Rs 39,464 per kg at the futures trade as participants trimmed their positions due to a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in May fell Rs 26 or 0.07 per cent to Rs 39,464 per kg in a business turnover of 443 lots. Similarly, the white metal for delivery in July shed Rs 9 or 0.02 per cent to Rs 40,088 per kg in 84 lots.
Traders attributed the weakness in silver prices to offloading of positions by participants in line with a weak trend in precious metal in the global market. Globally, silver fell 0.96 per cent to $16.51 an ounce in New York in yesterday’s trade.
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