Silver futures slip to Rs 53,546/kg

Silver dipped by Rs 402 to Rs 53,546 per kg in futures trading on Monday as speculators reduced their positions due to a weakening global trend.

At the Multi Commodity Exchange, silver for delivery in July dipped by Rs 402, or 0.75 per cent, to Rs 53,546 per kg, with a business turnover of 10,401 lots.

Similarly, the metal for delivery in September plunged by Rs 380, or 0.69 per cent, to Rs 54,400 per kg, with an openinterest for 540 lots.

Market analysts said speculators offloaded their positions, driven down by a weakening global trend, led to fall in silver futures prices.

Meanwhile, silver fell by 0.5 per cent to USD 35.57 an ounce in the Asian region.