Taking cues from overseas markets, silver prices dropped Rs 139 to Rs 39,581 per kg in futures trade today. Profit-booking at existing levels by speculators also weighed on prices.
At the Multi Commodity Exchange, silver for delivery in far-month May fell Rs 139, or 0.35 per cent, to Rs 39,581 per kg in a business turnover of 44 lots.
Similarly, the white metal for delivery in March traded lower by Rs 120, or 0.31 per cent, to Rs 39,133 per kg in 1,575 lots.
Traders said offloading of positions by participants due to a weak global trend led to the fall in prices in futures trade.
Globally, silver shed 0.41 per cent to USD 17.09 an ounce in Singapore.