Silver prices declined by Rs 397 to Rs 37,365 per kg in futures trade today after speculators reduced their exposures amid weak cues from global markets.
At the Multi Commodity Exchange, silver for delivery in March fell by Rs 397, or 1.05 per cent, to Rs 37,365 per kg in a business turnover of 2,018 lots.
In a similar fashion, the white metal for delivery in May traded lower by Rs 358, or 0.93 per cent, to Rs 38,025 per kg in 11 lots.
Analysts said reducing of positions by participants amidst a weak global trend mainly led to the fall in silver prices at futures trade here.
Globally, silver lost 0.4 per cent to USD 16.47 an ounce in Singapore.