Silver on MCX settled up 1.19% at 46621 rose for the first time in six sessions after the ECB stood pat as Mario Draghi emphasized that policymakers need more time to assess the long-term ramifications of the U.K's decision to leave the EU before deciding whether to implement further easing measures.

Silver futures were trading lower in the domestic market on Friday as speculators engaged in reducing their positions, tracking a weak trend in global markets.

At the MCX, Silver futures for September 2016 contract closed at Rs 46,375, per 1 kg, down by 0.53 per cent after opening at Rs 46503, against the previous closing price of Rs 46621 It touched the intra-day low of Rs 46270.

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