New Delhi: Silver prices fell by Rs 164 to Rs 89,376 per kg on Monday as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for August delivery declined by Rs 164, or 0.18 per cent, to Rs 89,376 per kg on a business turnover of 21,984 lots.

Globally, silver was trading 0.61 per cent lower at US$29.38 an ounce in New York.