New Delhi, April 29: Silver prices declined in futures trade on Wednesday as investors reduced positions amid a stronger US dollar and rising crude oil prices, which weighed on overall bullion demand.
On the Multi Commodity Exchange (MCX), silver futures for May delivery fell by ₹1,137, or 0.48%, to ₹2,36,208 per kilogram, with a trading volume of 2,020 lots.
The July contract also weakened, dropping by ₹1,964, or 0.81%, to ₹2,40,799 per kilogram, in a business turnover of 6,868 lots.
Market analysts said pressure on precious metals increased as oil prices remained elevated and currency movements reduced investor appetite for safe-haven assets like silver.
