Silver futures on Tuesday dropped by Rs 281 to Rs 48,219 per kg as participants reduced their bets on low demand.
On the Multi Commodity Exchange, silver contracts for July delivery tumbled by Rs 281, or 0.58 per cent, to Rs 48,219 per kg in a business turnover of 10,727 lots.
Similarly, silver for September delivery fell by Rs 275, or 0.56 per cent, to Rs 49,112 per kg in a business turnover of 3,017 lots.
Silver traded 0.58 per cent down at USD 17.97 an ounce in New York.
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