Silver futures fall on reduced bets

Silver prices on Friday declined Rs 79 to Rs 97,432 per kilogram as participants reduced their bets. On the Multi Commodity Exchange, silver contracts for May delivery depreciated by Rs 79 or 0.08 per cent to Rs 97,432 per kg in a business turnover of 17,110 lots. Analysts said a sell-off by participants at existing levels in the market mainly weighed on silver prices. In the overseas markets, silver futures was trading 0.33 per cent lower at $33.46 per ounce in New York.