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Tracking weak cues from overseas markets, silver prices moved down by 0.62 per cent to Rs 38,315 per kg at the futures trade as speculators trimmed their positions.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 238 or 0.62 per cent to Rs 38,315 per kg in a business turnover of 620 lots. The white metal for delivery in May was trading lower by Rs 218 or 0.56 per cent at Rs 38,859 per kg in 253 lots.
Traders said offloading of positions by participants on the back of a weak global trend, mainly weighed on silver prices at the futures trade. Silver fell 0.51 per cent to $16.56 an ounce today in Singapore.
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