Taking weak cues from overseas markets, silver prices dropped by 0.76 per cent to Rs 41,400 per kg at the futures trading today, as participants cut down their bets.
Also, profit-booking at prevailing levels by speculators weighed on silver prices.
At the Multi Commodity Exchange, silver for delivery in March was trading lower by Rs 318 or 0.76 per cent to Rs 41,400 per kg in a business turnover of 759 lots.
Similarly, the white metal for delivery in far-month May was down by Rs 298 or 0.7 per cent to Rs 42,000 per kg in 21 lots.
Traders said offloading of positions by participants due to a weak global trend mainly led to the fall in silver prices at the futures trade.
Globally, silver shed 0.26 per cent to $17.01 an ounce in Singapore.