Silver futures fall on reduced bets

Silver prices on Thursday declined Rs 1,148 to Rs 94,318 per kilogram as participants reduced their bets. On the Multi Commodity Exchange, silver contracts for July delivery depreciated by Rs 1,148 or 1.2 per cent to Rs 94,318 per kg in a business turnover of 21,414 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 1.28 per cent lower at $31.81 per ounce in New York.