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Silver prices dropped by Rs 190 per kg to Rs 47,085 per kg at the futures trade today as speculators locked-in gains at prevailing levels amid a weak trend in global market.
At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 190 or 0.4 per cent at Rs 47,085 per kg in a business turnover of 932 lots.
Similarly, the metal for delivery in far-month December declined by Rs 189 or 0.39 per cent to Rs 48,310 per kg in a business of 10 lots.
In the international market, silver slumped 1.16 per cent to $19.963 an ounce in Singapore.
Analysts attributed the fall in silver in futures trade to a weak trajectory in global markets after data on Friday showed the US economy gaining traction, raising bets that the Federal Reserve may increase interest rates this year, eroding the demand for a safe haven.
Besides, profit-booking by speculators, too weighed on silver futures here, they added.
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