Taking cues from overseas markets, silver prices dropped Rs 139 to Rs 39,581 per kg at the futures trade. 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 at the futures trade. Globally, silver shed 0.41 per cent to $17.09 an ounce in Singapore.