Silver prices dropped by Rs 97 to Rs 28,700 per kg in futures trade today on sluggish market demand, influenced by a weak global trend.
At the Multi Commodity Exchange, silver for September month declined by Rs 97 or 0.34 per cent to Rs 28,700 per kg with an open interest of 15,260 lots.
Similarly, the metal for delivery in December month lost Rs 95 or 0.33 per cent to Rs 28,811 per kg in 1,096 lots.
Analysts said sluggish spot market demand amid weakening global trend pulled down silver prices at futures trade.
Meanwhile, silver traded lower by 0.28 per cent to $17.63 an ounce in Asian region.