Taking weak cues from overseas markets, silver prices tumbled by Rs 66 to Rs 40,030 per kg in futures trade today as participants cut down bets.
At the Multi Commodity Exchange, silver for delivery in July was trading lower by Rs 66, or 0.16 per cent, to Rs 40,030 per kg in a business turnover of 623 lots.
Similarly, the white metal for delivery in September declined by Rs 38, or 0.09 per cent, to Rs 40,518 per kg in a business volume of 14 lots.
In the international market, silver fell 0.17 per cent to USD 17.27 an ounce in Singapore today.
Traders said the fall in silver prices was largely due cutting down of positions by participants in step with a weak trend in precious metals in the global markets.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)