New Delhi: Silver prices fell on Wednesday after hitting a record high of Rs 2,59,692 per kg in futures trade due to heavy profit-booking by traders in a cautious environment ahead of the release of US economic data.

On the Multi Commodity Exchange (MCX), silver futures for delivery in March ended their four-day rally and fell by Rs 4,161, or 1.61 per cent, to Rs 2,54,650 per kg. Earlier in the morning session, silver had risen by Rs 881 or 0.34 per cent to reach a new record high of Rs 2,59,692 per kg. Silver prices on Tuesday rose by Rs 13,167 or 5.35 per cent to a record high of Rs 2,59,322 per kg.

However, it finally closed at Rs 2,58,811 per kg. On Monday it closed at Rs 2,46,155 per kg. Meanwhile, limited movement was seen in gold futures prices. The contracts for delivery in February fell Rs 633, or 0.46 per cent, to Rs 1,38,450 per 10 grams. Reflects modest profit-taking after strong gains in recent sessions. In the international market, Comex silver futures fell by US $ 1.41, or 1.74 per cent, to $ 79.63 an ounce. Earlier, it had climbed 1.91 percent and reached near the record level of US $ 82.58 per ounce. Silver had reached an all-time high of $82.67 an ounce on December 29.

In foreign trade, gold futures for delivery in February fell by US $ 21, or 0.47 percent, to $ 4,475.10 an ounce.