Taking weak cues from overseas markets, silver prices dropped by Rs 225 to Rs 38,805 per kg in futures trade today as participants cut down their bets.
Profit-booking at prevailing levels by speculators also weighed on silver prices.
At the Multi Commodity Exchange, silver for delivery in May was trading lower by Rs 225, or 0.58 per cent, at Rs 38,805 per kg, in a business turnover of 711 lots.
Similarly, the white metal for delivery in July declined by Rs 201, or 0.51 per cent, to Rs 39,310 per kg in a business volume of 24 lots.
Overseas, silver fell 0.27 per cent to USD 16.56 an ounce in Singapore today.
Traders attributed the fall in silver prices at futures trade to a weak trend in precious metals in global markets and profit-booking by speculators.
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