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Silver prices fell sharply by Rs 318 to Rs 37,471 per kg at the futures trade today as speculators reduced their positions amid a weak global trend.
On the Multi Commodity Exchange, silver for delivery in May moved down by Rs 318 or 0.84 per cent to Rs 37,471 per kg in a business turnover of 1,317 lots.
Also, the white metal for delivery in July fell Rs 312 or 0.82 per cent to Rs 37,927 per kg in 76 lots.
Analysts said besides profit-booking by speculators, a weak global trend weighed on silver prices at the futures trade here.
Meanwhile, the white metal fell 0.21 per cent to $16.69 an ounce in Singapore.
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