Silver prices fell sharply by Rs 407 to Rs 40,484 per kg in futures trade Thursday amid profit-booking by speculators at current levels.

At the Multi Commodity Exchange, silver for delivery in March dipped by Rs 407, or 1 per cent, to Rs 40,484 per kg, clocking a business volume of 13,361 lots.

The white metal delivery for May contracts was also down by Rs 396, or 0.96 per cent, to Rs 41,069 per kg in 4,702 lots.

In the international market, silver dipped 1.05 per cent to USD 15.99 an ounce in Singapore.

Marketmen said profit-booking at prevailing levels led to the fall in silver prices at futures trade here.

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