Silver prices were down by Rs 149 at Rs 40,778 per kg at the futures trade today as speculators reduced their exposure amid a weak trend in global markets.

At the Multi Commodity Exchange, silver prices for delivery in far-month July traded lower by Rs 149 or 0.36 per cent at Rs 40,778 per kg in a business turnover of 175 lots.

Similarly, the metal for delivery in May declined Rs 147 or 0.36 per cent to Rs 40,269 per kg in a business volume of 776 lots.

In the international market, silver prices fell 2.01 per cent to $17.57 an ounce in New York yesterday.

Analysts attributed the fall in silver prices at the futures trade to a weak trajectory in global markets.