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Taking weak cues from overseas markets, silver prices dropped 0.21 per cent to Rs 39,337 per kg at the futures trade owing to trimming of bets by participants. Also, profit-booking at prevailing levels by speculators weighed on prices.
At the Multi Commodity Exchange, silver for delivery in March was trading lower by Rs 83 or 0.21 per cent at Rs 39,337 per kg in a business turnover of 407 lots. Similarly, the white metal for delivery in May was down Rs 58 or 0.15 per cent at Rs 39,865 per kg in just one lot.
Traders said offloading of positions by participants due to a weak global trend led to the fall in silver prices at the futures trade. Globally, silver shed 0.20 per cent to $17.15 an ounce in Singapore.
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