Silver futures plummet Rs 1,587 to Rs 89,181/kg

New Delhi, Nov 25 (PTI) Silver prices on Monday plummeted Rs 1,587 to Rs 89,181 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for December delivery declined Rs 1,587 or 1.75 per cent to Rs 89,181 per kg in a business turnover of 16,587 lots.

Analysts said a sell-off by participants at existing levels in the market mainly weighed on silver prices.

Globally, silver was trading 2.06 per cent lower at USD 30.70 per ounce in New York.