Taking weak cues from overseas markets, silver prices drifted lower 0.32 per cent to Rs 38,395 per kg in futures trade today as participants reduced exposure.
At the Multi Commodity Exchange, silver for delivery in May fell by Rs 125, or 0.32 per cent, to Rs 38,395 per kg in business turnover of 308 lots.
Similarly, the white metal for delivery in July contracts shed Rs 108, or 0.28 per cent, to Rs 38,901 per kg in 5 lots.
Analysts said offloading of positions by participants on the back of a weak trend overseas kept pressure on silver prices in futures trade.
Meanwhile, silver was trading lower by 0.15 per cent to USD 16.27 an ounce in Singapore today.
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