Silver prices softened by 0.50 per cent to Rs 40,431 per kg in futures trading today as participants cut positions tracking a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in May fell by Rs 204, or 0.50 per cent, to Rs 40,431 per kg in a business turnover of 338 lots.
Similarly, the white metal for delivery in July lost Rs 193, or 0.47 per cent, to Rs 41,024 per kg in 15 lots.
Traders attributed the drop in silver prices in futures trade to offloading of positions by participants in line with a weak trend in precious metals in the global market.
Globally, silver declined 0.35 per cent to USD 17.16 an ounce in Singapore today.
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