New Delhi, Jul 16 (PTI) Silver prices on Wednesday declined Rs 66 to Rs 1,11,420 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for September delivery decreased Rs 66, or 0.06 per cent, to Rs 1,11,420 per kilogram in a business turnover of 18,423 lots.

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

Globally, silver was trading 0.38 per cent higher at USD 37.84 per ounce in New York.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)