Silver prices dropped 0.16 per cent to Rs 37,150 per kg in futures trade Thursday amid profit-booking by participants and weak global cues.
On the Multi Commodity Exchange, silver contracts for July delivery fell by Rs 60, or 0.16 per cent, to Rs 37,150 per kg in a business turnover of 65 lots.
Traders said off-loading of positions by participants to book profits and a weak trend in overseas markets led to the fall in silver prices in futures trade.
Globally, silver was trading lower by 0.40 per cent to USD 15.28 an ounce in New York.
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