Silver prices declined 0.68 per cent to Rs 53,803 per kg at the futures trade today due to reduced offtake by traders following decline in demand at prevailing higher levels amid a weak trend in Asia.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 634 or 0.68 per cent to Rs 53,803 per kg with a business turnover of 282 lots. Likewise, the metal for delivery in December moved down by Rs 353 or 0.67 per cent to Rs 52,416 with a business volume of 9,229 lots.
Traders said fall in demand at prevailing higher levels at the spot market amid a weakening trend in Asian region, mainly led to a fall in silver futures prices.
Meanwhile, the white metal fell 1.04 per cent to $31.47 an ounce in the Asian region.