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Silver prices fell sharply by Rs 318 to Rs 37,471 per kg in futures trade today as speculators reduced their positions amidst a weak global trend.
At the Multi Commodity Exchange, silver for delivery in May moved down by Rs 318, or 0.84%, to Rs 37,471 per kg in a business turnover of 1,317 lots.
Also, the white metal for delivery in July fell by Rs 312, or 0.82%, to Rs 37,927 per kg in 76 lots.
Analysts said besides profit-booking by speculators, a weak global trend weighed on silver prices at futures trade here.
Meanwhile, silver fell by 0.21% to $16.69 an ounce in Singapore.
