Silver futures slipped on Wednesday, falling by Rs 117 to Rs 96,650 per kilogram, as traders pared down their holdings amid profit booking.

On the Multi Commodity Exchange (MCX), the July delivery contract for silver declined by 0.12%, or Rs 117, settling at Rs 96,650 per kg with a traded volume of 17,173 lots.

Analysts attributed the dip in prices to selling pressure at prevailing market levels, as participants opted to reduce exposure.