Amid profit-booking by participants, silver prices dropped by 0.52 per cent to Rs 38,451 per kg in futures trade today even as the metal strengthened overseas.
At the Multi Commodity Exchange, silver for delivery in March fell Rs 200, or 0.52 per cent, to Rs 38,451 per kg in a business turnover of 771 lots.
Similarly, the white metal for delivery in May traded lower by Rs 175, or 0.45 per cent, to Rs 39,030 per kg in 160 lots.
Traders said offloading of positions by participants to book profits led to the fall in prices in futures trade but a firm trend in the white metal in global market capped the fall.
Globally, silver rose 0.51 per cent to USD 16.66 an ounce in Singapore.
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