Silver coins, however, continued to be traded at previous level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces. Silver on MCX settled down -1.12% at 40803 retreated from the earlier gain's as the dollar recovered some lost ground.

silver ready dipped below Rs 41,000- mark by falling Rs 600 to Rs 40,500 per kg and weekly-based delivery lost Rs 355 to Rs 40,875 per kg. 

silver dropped by Rs 600 to Rs 40,500 per kg due to reduced offtake by industrial units and coin makers. Contact this no:- 9827808090

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Silver trading range for the day is 40178-41792.

Silver dropped amid a slightly appreciating dollar, as investors awaited the release of a wave of key U.S. economic data at week's end for further signals.

The Labor Department said that initial jobless claims last week rose by 20,000 to 294,000, defying expectations for an increase of 17,000.