Silver prices declined 0.19 per cent to Rs 39,740 per kg at the futures trade today as speculators reduced their exposure amid a weak trend in global markets.

On the Multi Commodity Exchange, silver prices for delivery in far-month September contracts traded lower by Rs 75 or 0.19 per cent to Rs 39,740 per kg in a business turnover of 4 lots.

Similarly, the white metal for delivery in July declined Rs 61 or 0.16 per cent to Rs 39,215 per kg in a business volume of 357 lots.

In the international market, silver prices traded little changed at 17.10 an ounce in Singapore. Prices had tumbled 3.5 per cent yesterday, the most since February 17.

Analysts attributed the fall in silver prices at the futures trade to a weak trajectory in global markets before the Fed releases the minutes of its last meeting amid speculation that an improving housing market will boost the case for higher interest rates.

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