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Taking cues from overseas markets, silver prices eased Rs 60 to Rs 38,785 per kg at the futures trade as participants trimmed their bets. Also, profit-booking at existing levels by speculators weighed on silver prices.
At the Multi Commodity Exchange, silver for delivery in March dropped Rs 607 or 0.15 per cent to Rs 39,785 per kg in a business turnover of 185 lots. Similarly, the white metal for delivery in far-month May traded down by Rs 48 or 0.12 per cent at Rs 30,283 per kg in 9 lots.
Traders said offloading of positions by participants due to a weak global trend led to the fall in prices. Globally, silver shed 0.32 per cent to $16.88 an ounce in Singapore.
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