Silver futures fall Rs 946 to Rs 2,51,599/kg; gold drops to Rs 1,53,940/10g

New Delhi: Silver prices on Tuesday fell by Rs 946 to Rs 2,51,599 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for the May delivery declined Rs 946, or 0.37 per cent, to 2,51,599 per kg in a business turnover of 778 lots.

Analysts said a sell-off by participants mainly weighed on silver prices.

Globally, silver was trading 0.55 per cent lower at USD 79.29 per ounce in New York.

Gold prices on Tuesday dropped marginally by Rs 3 to Rs 1,53,940 per 10 grams in futures trade amid a fall in spot demand.

On the Multi Commodity Exchange, gold contracts for the June delivery traded lower by Rs 3 at Rs 1,53,940 per 10 grams in a business turnover of 439 lots.

Analysts attributed the fall in gold prices to weak global cues.

Globally, gold futures declined by 0.55 per cent to USD 4,794.27 per ounce in New York.