Silver prices on Tuesday fell Rs 1,120 to Rs 81,363 per kilogram as participants reduced their bets.

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On the Multi Commodity Exchange, silver contracts for July delivery declined Rs 1,120 or 1.36 per cent to Rs 81,363 per kg in a business turnover of 23,425 lots.

Globally, silver was trading 2.51 per cent lower at USD 26.94 per ounce in New York.