Silver futures drop on subdued demand

Silver futures on Monday tumbled by Rs 1,084 to Rs 65,462 per kilogram as participants reduced their bets on low demand.

On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 1,084 or 1.63 per cent to Rs 65,462 per kg in a business turnover of 6,672 lots.

Globally, silver was trading 1.76 per cent lower at USD 23.89 per ounce in New York.