NEW DELHI: Silver prices fell sharply by Rs 801 to Rs 39,164 per kg in futures trade today as speculators indulged in offloading positions amid a weak global trend.
At the Multi Commodity Exchange, silver for delivery in March plunged by Rs 801, or 2 per cent, to Rs 39,164 per kg in a business turnover of 927 lots.
Similarly, the white metal for delivery in far-month May lost Rs 772, or 1.90 per cent, to Rs 39,845 per kg in 35 lots.
Market analysts said speculators trimmed positions in tandem with a weak global trend where precious metals retreated ahead of US Federal Reserve meet, influencing silver prices at futures trade here.
Meanwhile, silver fell by 0.6 per cent to USD 17.81 an ounce in Singapore today.