Silver prices declined by Rs 98 to Rs 41,345 per kg in futures trade today as speculators cut down their bets amid a weakening trend overseas.
Silver for delivery in far-month September traded lower by Rs 98, or 0.24 per cent, to Rs 41,345 per kg in a business turnover of 3 lots in futures trading at the Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in July was trading lower by Rs 91, or 0.22 per cent, at Rs 40,700 per kg in a business turnover of 226 lots.
In the international market, silver traded 0.35 per cent lower at USD 16.84 an ounce in Singapore.
Market analysts said trimming of positions by participants tracking a weak trend in precious metals in global markets kept pressure on silver futures.