Silver futures declined by Rs 126 to Rs 96,603 per kilogram on Monday as traders pared down their holdings.

On the Multi Commodity Exchange (MCX), silver contracts for July delivery slipped Rs 126 or 0.13%, settling at Rs 96,603 per kg with a trading volume of 16,242 lots.

Analysts attributed the decline to profit booking and reduced buying interest at prevailing price levels, which pressured silver rates in the futures market.