New Delhi

Silver prices declined sharply by Rs 2,577 to Rs 2.38 lakh per kilogram in futures trading on Friday, following weak global cues and subdued investor demand.

On the Multi Commodity Exchange, silver contracts for May delivery slipped Rs 2,577, or 1.07 per cent, to Rs 2,38,936 per kg.

Market analysts said domestic prices tracked losses in overseas markets and cautious sentiment across the commodities segment.

In international trade, COMEX silver futures for May delivery fell 1.26 per cent to USD 74.55 per ounce in New York.

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Experts said weakness in the global benchmark and restrained participation by traders weighed on silver prices.