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Silver prices drifted lower by 0.45 per cent to Rs 40,295 per kg at the futures trade as participants trimmed their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in May fell Rs 184 or 0.45 per cent to Rs 40,295 per kg in a business turnover of 322 lots. Similarly, the white metal for delivery in July declined by Rs 182 or 0.44 per cent to Rs 40,876 per kg in 45 lots.
Traders said offloading of positions by participants in line with a weak trend in precious metals in the global markets weighed on silver prices at the futures trade. Globally, silver fell 0.26 per cent to $17.04 an ounce in Singapore.
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