Silver prices fell 0.87 per cent to trade at Rs 55,058 per kg at the futures today as speculators booked profits after recent gains amid a weak trend in the global market.
On the Multi Commodity Exchange, silver for delivery in September dipped by Rs 484 or 0.87 per cent to Rs 55,058 per kg in a business turnover of 455 lots.
In a similar fashion, the white metal for delivery in far-month December traded lower by Rs 425 or 0.74 per cent at Rs 56,905 per kg in 127 lots.
Market analysts said profit-booking by speculators and a weak trend overseas as better-than-expected US economic data backed the case for the Federal Reserve to reduce stimulus, mainly weighed on silver prices at the futures trade here.
Meanwhile, silver fell 0.6 per cent to $23.73 an ounce in Singapore today.