Silver prices were trading down 0.65 per cent to Rs 38,390 per kg in futures trading today as speculators reduced their exposure, driven by a weak trend in global markets.
At Multi Commodity Exchange, silver prices for delivery in March fell by Rs 250, or 0.65 per cent, to Rs 38,390 per kg in a business turnover of 1,063 lots.
On similar lines, the white metal for delivery in far-month May traded lower by Rs 225, or 0.57 per cent, to Rs 38,935 per kg in 204 lots.
Analysts attributed the fall in silver prices in futures trade to a weak trend in global markets as minutes from the last US Federal Reserve indicated a hike in interest rates, strengthening the dollar and reducing the appeal of the precious metals as a safe haven investment.
Meanwhile, silver fell 0.18 per cent to USD 16.47 an ounce in Singapore.
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