Silver futures plunge on reduced bets

New Delhi, May 26: Silver prices fell by Rs 57 to Rs 97,997 per kg on Monday as participants reduced bets.

Silver contracts for July delivery on the Multi Commodity Exchange fell by Rs 57, or 0.06 percent, to Rs 97,997 per kg in a business turnover of 17,276 lots.

Analysts said selling by participants at current levels in the market mainly influenced silver prices.

Foreign futures markets remained closed on the occasion of Memorial Day in the US.

By Priyanka Roy