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Silver prices drifted lower by 0.81 per cent to Rs 39,941 per kg at the futures trade today due to cutting down of bets by speculators at prevailing levels owing to a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in July fell Rs 326 or 0.81 per cent to Rs 39,941 per kg in a business turnover of 649 lots. Similarly, the white metal for delivery in far-month September was trading lower by Rs 310 or 0.76 per cent at Rs 40,570 per kg in 36 lots.
Analysts attributed the fall in silver in futures trade to offloading of positions by participants in line with a weak trend overseas. Globally, silver fell 0.18 per cent to $16.44 an ounce in Singapore.
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