Silver prices dropped 0.21 per cent to Rs 37,274 per kg amid profit-booking by participants, in tune with weak global cues in futures trade on Monday.
On the Multi Commodity Exchange, silver for delivery in March fell by Rs 80, or 0.21 per cent, to Rs 37,274 per kg in a business turnover of 23,518 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 0.37 per cent lower at USD 14.67 an ounce in New York.
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