Taking weak cues from overseas markets, silver prices tumbled Rs 526 to Rs 41,158 per kg at the futures trade today, as participants reduced exposure.
At the Multi Commodity Exchange, silver for delivery in July lost Rs 526 or 1.26 per cent to Rs 41,158 per kg in a business turnover of 1,548 lots.
Similarly, the white metal for delivery in far-month September was trading lower by Rs 514 or 1.21 per cent to Rs 41,901 per kg in a business volume of 130 lots.
In the international market, silver slumped 1.94 per cent to $17.15 an ounce in New York yesterday.
Traders said the fall in silver prices at the futures trade was largely in line with a weak trend in precious metals in global markets and due to profit-booking by speculators at prevailing higher levels.