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Silver prices drifted lower by 0.18 per cent to Rs 39,556 per kg at the futures trade due to trimming down of positions by speculators owing to weak global cues.
At the Multi Commodity Exchange, silver for delivery in July fell Rs 70 or 0.18 per cent to Rs 39,556 per kg in a business turnover of 352 lots. Likewise, the white metal for delivery in far-month September contracts shed Rs 65 or 0.16 per cent to Rs 40,229 per kg in 16 lots.
Analysts said the slide in silver prices was mostly due to offloading of positions by participants owing to a weak global trend. Meanwhile, silver fell 0.23 per cent to $16.24 an ounce in Singapore.
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