Silver futures on Monday slumped by Rs 55 to Rs 46,911 per kg as participants cut down their bets despite white metal gaining overseas.
On the Multi Commodity Exchange, silver contracts for March delivery tumbled Rs 55, or 0.12 per cent, to Rs 46,911 per kg in a business turnover of 2,543 lots.
Besides, the white metal to be delivered in May fell by Rs 36 to Rs 47,380 per kg in 43 lots.
In the international market, silver prices gained 0.29 per cent to USD 18.01 an ounce in New York.