Silver futures decline on low bets, falling 0.36 percent

People can buy and sell silver before they even get it, using something called futures.

Futures are agreements to buy or sell silver later at a set price.

On Friday, the price of these silver agreements went down.

The price dropped by 851 rupees, to 234,596 rupees for one kilogram.

The drop was small, only 0.36 per cent.

It happened because many buyers and sellers decided to lower their bets on silver.

When fewer people want to buy something, its price usually falls.

Around the world, however, the price of silver actually went up a little bit.

In New York, silver cost 64.67 dollars per ounce, which was 0.29 per cent more.

So while silver prices fell in one market, silver was slightly more expensive in another.