Silver prices drifted lower by 0.26 per cent to Rs 48,618 per kg in futures trade today as participants engaged in reducing their belts, taking weak cues from overseas markets.
At the Multi Commodity Exchange, silver for delivery in December month fell by Rs 127 or 0.26 per cent to Rs 48,618 per kg in business turnover of 5 lots.
The white metal for delivery in September contracts traded lower by Rs 96 or 0.20 per cent to Rs 47,413 per kg in 395 lots.
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Traders said offloading of positions by traders, driven by a weak trend overseas, mainly kept pressure on silver prices at futures trade.
Meanwhile, silver traded lower by 0.20 per cent to USD 20.22 an ounce in Singapore.
