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Silver futures lost Rs 1,116 to Rs 50,651 per kg today as speculators offloaded their positions in tandem with a weak global trend.
Sluggish demand in the spot market further fuelled the downtrend in silver prices.
At the Multi Commodity Exchange, silver for delivery in May fell by Rs 1,116, or 2.16 per cent, to Rs 50,651 per kg, with an open interest for 1,140 lots.
In a similar fashion, the metal for March contract delivery lost Rs 1,092, or 2.16 per cent, to Rs 49,544 per kg in 17,762 lots.
Market analysts attributed the sharp fall in silver futures prices to a weakening global trend and sluggish demand in the spot market.
Meanwhile, silver shed 1.51 per cent to $26.74 an ounce in the Asia region.
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