Silver prices were down by Rs 36 at Rs 46,358 per kg at the futures trading today as speculators reduced their exposure, driven by a weak trend in global markets.
At the Multi Commodity Exchange, silver prices for delivery in far-month March was trading lower by Rs 36 or 0.08 per cent at Rs 46,358 per kg in a business turnover of 12 lots.
On similar lines, the white metal for delivery in December fell Rs 33 or 0.07 per cent to Rs 45,461 per kg in 756 lots.
Analysts attributed the fall in silver prices at the futures trade to a weak trend in global markets as a surge in the US consumer confidence and dollar’s gains damped the demand for the metal as a store of value.
Meanwhile, silver fell 1.57 per cent to settle at $19.12 an ounce in New York yesterday.