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Amid reduced offtake by speculators at prevailing higher levels and a weakening global trend, silver prices shed 1.13 per cent to Rs 56,580 per kg at the futures trading today.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 649 or 1.13 per cent to Rs 56,580 per kg with a business turnover of 12,898 lots. Similarly, May contract declined by Rs 643 or 1.10 per cent to Rs 57,805 per kg with a business turnover of 658 lots.
Marketmen said besides reduced offtake by speculators at existing higher levels, reports of a weakening trend in overseas market mainly pulled down silver futures prices.
The white metal fell 0.7 per cent to $33.66 an ounce in Singapore.
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