Silver futures on Wednesday plunged Rs 546 to Rs 41,202 per kg as participants cut down their bets on low spot demand.
On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 546, or 1.31 per cent, to Rs 41,202 per kg in a business turnover of 3,224 lots.
Besides, the white metal to be delivered in July fell by Rs 352, or 0.83 per cent, to Rs 42,080 per kg in 1,729 lots.
Analysts said weak spot demand mainly kept pressure on silver prices here.
However, in the international market, silver prices traded 0.79 per cent up at USD 15.11 an ounce in New York.
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