Silver futures drop on subdued demand

Silver futures dropped Rs 131 to Rs 59,490 per kg on Wednesday as participants reduced their bets on low demand.

On the Multi Commodity Exchange, silver contracts for December delivery tumbled Rs 131, or 0.22 per cent, to Rs 59,490 per kg in a business turnover of 10,245 lots.

Globally, silver traded 0.60 per cent lower at USD 23.27 per ounce in New York.