Silver futures decline on reduced bets

New Delhi, Aug 25 (PTI) Silver prices on Monday declined Rs 28 to Rs 1,16,208 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for September delivery decreased Rs 28, or 0.02 per cent, to Rs 1,16,208 per kilogram in a business turnover of 12,841 lots.

Analysts said a sell-off by participants at existing levels in the market mainly weighed on silver prices.

Globally, silver was trading 0.07 per cent lower at USD 38.86 per ounce in New York. PTI DR DR ANU ANU