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Taking weak cues from overseas markets, silver prices tumbled by Rs 66 to Rs 40,030 per kg at the futures trade as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in July was trading lower by Rs 66 or 0.16 per cent to Rs 40,030 per kg in a business turnover of 623 lots.
Similarly, the white metal for delivery in September declined by Rs 38 or 0.09 per cent to Rs 40,518 per kg in a business volume of 14 lots.
In the international market, silver fell 0.17 per cent to $17.27 an ounce in Singapore today.
Traders said the fall in silver prices was largely due cutting down of positions by participants in step with a weak trend in precious metals in the global markets.
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