Amid a weakening trend overseas, silver fell Rs 106 to Rs 28,375 per kg in futures trade today as speculators cut down their bets. Silver for delivery in July traded lower by Rs 106, or 0.28 per cent, to Rs 38,375 per kg in a business turnover of 271 lots in futures trading at Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in far-month September was trading lower by Rs 106, or 0.27 per cent, at Rs 38,924 per kg in a business turnover of six lots. In the international market, silver traded 0.21 per cent lower at USD 16.65 an ounce in Singapore.
Market analysts said trimming of positions by participants tracking a weak trend in precious metals in global markets kept pressure on silver futures.