Silver futures prices fell over one per cent to Rs.56,657 per kg on Wednesday as speculators reduced their holdings amid weak Asian markets.

At the Multi Commodity Exchange, silver for delivery in May declined by Rs.610 or 1.07 per cent to Rs.56,967 per kg with a business turnover of 3,362 lots. Similarly, July prices fell Rs.593 or one per cent to Rs.58,614 per kg in 152 lots.

Meanwhile, silver traded lower by 0.8 per cent to $32.42 an ounce in Singapore in the morning trade today.