Silver prices drifted lower by 0.45 per cent to Rs 40,295 per kg in futures trade today as participants cut positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in May fell by Rs 184, or 0.45 per cent, to Rs 40,295 per kg in business turnover of 322 lots.
Similarly, the white metal for delivery in July contracts declined by Rs 182, or 0.44 per cent, to Rs 40,876 per kg in 45 lots.
Traders said offloading of positions by participants in line with a weak trend in precious metals in the global markets weighed on silver prices at futures trade.
Globally, silver fell 0.26 per cent to USD 17.04 an ounce in Singapore today.
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