Silver prices declined by Rs 124 to Rs 38,440 per kg at the futures trade today as speculators reduced their exposures amid a weak trend in the global markets.
On the Multi Commodity Exchange, silver prices for delivery in far-month May traded lower by Rs 124 or 0.32 per cent to Rs 38,440 per kg in a business turnover of 9 lots.
Similarly, the white metal prices for delivery in March declined by Rs 119 or 0.31 per cent to Rs 37,886 per kg in a business volume of 278 lots.
In the international market, silver prices traded 0.29 per cent lower at $17.18 an ounce in New York yesterday.
Market analysts attributed the fall in silver prices at the futures trade to a weak trend in global markets.