Tracking a weak global trend, silver prices moved down by 0.96 per cent to Rs 40,698 per kg at the futures trade today as speculators trimmed their bets.
At the Multi Commodity Exchange, silver for delivery in far-month May dropped by Rs 395 or 0.96 per cent to Rs 40,698 per kg in a business turnover of 64 lots.
Likewise, the metal for delivery in March declined by Rs 348 or 0.86 per cent to Rs 40,100 per kg in 2,790 lots.
Traders said the fall in silver prices was largely in line with a weak trend in precious metals at the global market.
Globally, silver fell 0.85 per cent to $16.41 an ounce in Singapore.