Silver futures drop on subdued demand

Silver futures on Friday dropped by Rs 363 to Rs 63,167 per kg as participants reduced their bets on low demand.

On the Multi Commodity Exchange, silver contracts for March delivery tumbled by Rs 363, or 0.57 per cent, to Rs 63,167 per kg in a business turnover of 12,085 lots.

Silver traded lower by 0.24 per cent at USD 24.04 per ounce in New York.