Silver futures drop on subdued demand

New Delhi: Silver futures on Tuesday dropped by Rs 916 to Rs 60,400 per kg as participants reduced their bets on low demand. On the Multi Commodity Exchange, silver contracts for December delivery tumbled by Rs 916, or 1.49 per cent, to Rs 60,400 per kg in a business turnover of 16,360 lots.

Silver traded lower by 0.64 per cent at USD 24.23 per ounce in New York.