Silver prices fell steeply by Rs 184, or 0.46 per cent, to Rs 40,255 per kg in futures trade Friday as participants cut down bets, in tandem with a muted trend overseas.

At the Multi Commodity Exchange, silver for delivery in March fell by Rs 184, or 0.46 per cent, to Rs 40,255 per kg in a business turnover of 15,053 lots.

Similarly, the white metal for delivery in far-month May, too, edged down by Rs 70, or 0.17 per cent, to Rs 40,976 per kg in 3,025 lots.

Analysts said off-loading of positions by participants at current levels led to fall in silver prices at futures trade here. A tepid trend in the precious metal overseas aided the losses.

Globally, silver prices slumped 0.61 per cent to USD 15.92 an ounce in Singapore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)