Silver prices tumbled by Rs 159 to Rs 37,778 per kg in futures trade today as speculators cut holdings amid a weakening trend overseas.
Silver for delivery in far-month March was trading sharply lower by Rs 159 or 0.42 per cent at Rs 37,778 per kg in a business turnover of 8 lots in futures trading at the Multi Commodity Exchange (MCX).
The white metal for delivery in December slumped Rs 147, or 0.40 per cent, at Rs 37,004 per kg with a business turnover of 873 lots.
In the international market, silver traded 0.14 per cent lower at USD 14.11 an ounce in Singapore today.
Market analysts said besides a weak trend in precious metals in global market, profit-booking by participants led to a fall in silver prices in futures trade here.