Silver prices fell by Rs 237 to Rs 57,468 per kg at the futures trade today as speculators locked in gains at existing record levels amid a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in September dropped by Rs 237 or 0.41 per cent to Rs 57,468 per kg with a business turnover of 7,067 lots. Similarly for December contract, the white metal traded lower by Rs 235 or 0.4 per cent at Rs 58,600 per kg, clocking a turnover of 189 lots.
Analysts said besides profit-booking by speculators at current attractive levels, a weak trend at the global markets weighed on the silver futures prices here.
Meanwhile, the white metal traded lower at $38.30 an ounce after rising to $39.36 an ounce yesterday, highest level since May 5.