Taking weak cues from overseas markets, silver prices traded lower by 0.24 per cent to Rs 38,780 per kg in futures market today as participants reduced exposure.
At the Multi Commodity Exchange, silver for delivery in May fell by Rs 94, or 0.24 per cent, to Rs 38,780 per kg in business turnover of 677 lots.
Similarly, the white metal for delivery in July contracts was trading lower by Rs 92, or 0.23 per cent, to Rs 39,279 per kg in 18 lots.
Analysts said offloading of positions by participants on the back of a weak trend overseas influenced silver prices in futures trade.
Meanwhile, silver was trading lower by 0.06 per cent to USD 16.52 an ounce in Singapore today.