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Tracking a weak trend overseas, silver prices moved down by 0.48 per cent to Rs 38,991 per kg at the futures market as participants reduced their positions.
At the Multi Commodity Exchange, silver for delivery in May declined by Rs 190 or 0.48 per cent to Rs 38,991 per kg in a business turnover of 391 lots. Similarly, the white metal for delivery in July moved down by Rs 178 or 0.45 per cent to Rs 39,536 per kg in 22 lots.
Traders attributed the fall in silver prices at the futures trade to offloading of positions by participants in tandem with a weak trend in precious metals at the global market. Globally, silver declined 0.30 per cent to $16.60 an ounce in Singapore.
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