New Delhi: Taking weak cues from overseas markets, silver prices dropped 0.21 per cent to Rs 39,337 per kg in futures trade today, as participants cut bets.
Also, profit-booking at prevailing levels by speculators weighed on prices.
At the Multi Commodity Exchange, silver for delivery in March was trading lower by Rs 83, or 0.21 per cent, at Rs 39,337 per kg, in a business turnover of 407 lots.
Similarly, the white metal for delivery in May was down Rs 58, or 0.15 per cent, to Rs 39,865 per kg in just one lot.
Traders said offloading of positions by participants due to a weak global trend led to the fall in silver prices in futures trade.
Globally, silver shed 0.20 per cent to USD 17.15 an ounce in Singapore.