Silver futures drop on subdued demand

Silver futures on Wednesday dropped by Rs 956 to Rs 64,236 per kg, as participants reduced their bets on low demand.

On the Multi Commodity Exchange, silver contracts for the March delivery tumbled Rs 956, or 1.47 per cent, to Rs 64,236 per kg in a business turnover of 12,509 lots.

However, silver traded lower by 1.30 per cent at USD 24.42 per ounce in New York.