Silver prices moved down by 0.28 per cent to Rs 39,057 per kg at the futures market as speculators cut down their bets due to a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in July fell Rs 108 or 0.28 per cent to Rs 39,057 per kg in a business turnover of 818 lots.
Similarly, the white metal for delivery in far-month September declined by Rs 95 or 0.24 per cent to Rs 39,625 per kg in 7 lots.
Analysts attributed the fall in silver prices at the futures trade to offloading of positions by participants in tandem with a subdued trend overseas.
Globally, silver fell 1.37 per cent to $16.94 an ounce in New York in yesterday’s trade.