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Silver futures weakened by Rs 162 or 0.3 per cent to trade at Rs 53,701 per kg today as speculators offloaded positions taking cues from weak Asian market.
At the Multi Commodity Exchange, silver for delivery in May declined by Rs 162 or 0.3 per cent to Rs 53,701 per kg with a business turnover of 91 lots. Similarly, March contract moved down by Rs 111 or 0.21 per cent to Rs 52,629 per kg with a trade volume of 3,427 lots.
Traders said besides speculators offloading their positions, a weak trend in the Asian region as recent gains spurred selling in the precious metal, pulling down silver futures prices.
Meanwhile, the white metal lost 0.7 per cent to $29.14 an ounce in Singapore in early trade today.
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