Silver futures prices fell marginally by Rs 50 to Rs 57,107 per kg today after traders preferred to reduce their positions amid a weak trend in global markets.
At the Multi Commodity Exchange, silver for December contract fell Rs 50 or 0.09 per cent to Rs 57,107 per kg with an open interest of 1,602 lots. Likewise, March contract lost Rs 51 or 0.09 per cent to Rs 58,800 per kg with a business volume of 69 lots.
Market analysts attributed a moderate fall in silver prices at the futures trade to a subdued trend in overseas markets as the dollar’s gain against the euro on renewed worries over the euro zone debt crisis curbed the demand for precious metals as an alternative investment.
Meanwhile, the white metal in New York fell 2.52 per cent to $33.70 an ounce in yesterday’s session.