Silver prices declined by 0.35 per cent to Rs 40,968 per kg in futures trade today as participants reduced their exposure after the metal prices fell in global markets. At the Multi Commodity Exchange, silver for delivery in December fell by Rs 142, or 0.35 per cent, to Rs 40,968 per kg in a business turnover of 663 lots. The white metal for delivery in far-month March 2018 traded lower by Rs 125, or 0.30 per cent, to Rs 41,538 per kg in four lots.
Analysts attributed the fall to a weak trend in precious metals overseas as investors turned their attention to the US consumer inflation data later in the day for clues on the timing of further interest rate hikes and profit-booking by participants. Globally, silver was trading 0.28 per cent down at USD 17.69 an ounce in Singapore.