New Delhi, Apr 10 (PTI) Taking weak cues from overseas markets, silver prices dropped by 0.29 per cent to Rs 38,435 per kg in futures trade today as participants cut positions.

At the Multi Commodity Exchange, silver for delivery in May edged lower by Rs 110, or 0.29 per cent, to Rs 38,435 per kg in a business turnover of 354 lots.

Likewise, the white metal for delivery in July contracts lost Rs 91, or 0.23 per cent, to Rs 38,984 per kg in 25 lots.

Globally, silver declined 0.24 per cent to USD 16.43 an ounce in Singapore today.

Traders attributed the fall in silver prices in futures trade to offloading of positions by participants in tandem with a weak trend in precious metals in the global market.

This is published unedited from the PTI feed.