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Silver prices on Thursday fell by ₹476 to ₹2,34,310 per kilogram in futures trade as participants reduced their bets.
On the Multi Commodity Exchange, silver contracts for December delivery declined by ₹476, or 0.20 per cent, to ₹2,34,310 per kg in a business turnover of 12,785 lots.
Analysts said a sell-off by participants mainly weighed on silver prices.
Globally, the white metal was trading 0.08 per cent down at $64.870 per ounce in New York.