Silver prices tumbled Rs 659 to Rs 45,535 per kg at the futures trade today as speculators cut their holdings amid a weak trend overseas.
Silver for delivery in December was trading sharply lower by Rs 659 or 1.43 per cent at Rs 45,535 per kg in a business turnover of 1,147 lots at the Multi Commodity Exchange (MCX).
On similar lines, the white metal for delivery in far-month March next year slumped Rs 626 or 1.33 per cent at Rs 46,516 per kg with a business turnover of 32 lots.
In the international market, silver traded 0.58 per cent lower at $18.92 an ounce in Singapore.
Market analysts said a weak trend in precious metals in global market after revived speculations about a possible US rate hike as soon as this month, led to a steep fall in silver prices at the futures trade here.