New Delhi, Oct 13 (PTI) Amid profit-booking by speculators, silver prices dropped by Rs 62 to Rs 40,290 per kg in futures trade today even as metal strengthened overseas.

Silver for delivery in December was trading lower by Rs 62 or 0.15 per cent to Rs 40,290 per kg in a business turnover of 244 lots at Multi Commodity Exchange (MCX).

Silver traded 0.06 per cent higher at USD 17.24 an ounce in Singapore.

Market analysts said the fall in silver prices at futures trade was mostly attributed to profit-booking by speculators at prevailing levels but gains in metal overseas on safe haven buying, minimised the loss.

This is published unedited from the PTI feed.