Silver futures drop on subdued demand

Silver futures on Monday dropped by Rs 1,048 to Rs 62,765 per kg as participants reduced their bets on low demand

On the Multi Commodity Exchange, silver contracts for March delivery tumbled by Rs 1,048, or 1.64 per cent, to Rs 62,765 per kg in a business turnover of 11,764 lots

Silver traded lower by 1.91 per cent at USD 23.79 per ounce in New York.