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Taking weak cues from overseas markets, silver prices traded lower by 0.24 per cent at Rs 38,780 per kg at the futures market as participants reduced their exposure.
At the Multi Commodity Exchange, silver for delivery in May fell Rs 94 or 0.24 per cent to Rs 38,780 per kg in a business turnover of 677 lots. Similarly, the white metal for delivery in July was trading lower by Rs 92 or 0.23 per cent at Rs 39,279 per kg in 18 lots.
Analysts said offloading of positions by participants on the back of a weak trend overseas influenced silver prices at the futures trade. Meanwhile, silver was trading lower by 0.06 per cent at $16.52 an ounce in Singapore.
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