Taking weak cues from overseas markets, silver prices drifted lower by 0.12 per kg in futures trade today as participants reduced exposure.
At the Multi Commodity Exchange, silver for delivery in May declined by Rs 48, or 0.12 per cent, to Rs 38,899 per kg in business turnover of 610 lots.
Similarly, the white metal for delivery in July was trading lower by Rs 49, or 0.12 per cent, to Rs 39,379 per kg in 19 lots. Analysts said the weakness in silver prices at futures trade was largely in line with a weak trend in precious metals in global markets.
Meanwhile, silver was trading lower by 0.15 per cent to USD 16.54 an ounce in Singapore today.