Silver futures fall Rs 590 to Rs 1,14,456/kg

New Delhi, Jul 22 (PTI) Silver prices on Tuesday declined Rs 590 to Rs 1,14,456 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for August delivery decreased Rs 590 or 0.51 per cent to Rs 1,14,456 per kilogram in a business turnover of 19,830 lots.

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

Globally, silver was trading 0.36 per cent lower at USD 38.78 per ounce in New York. PTI DR SHW