Silver prices on Monday fell by ₹746 to ₹2,22,726 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange, silver contracts for September delivery declined by ₹746, or 0.33 per cent, to ₹2,22,726 per kg in a business turnover of 1,988 lots.
Analysts said a sell-off by participants mainly weighed on silver prices.
Globally, the white metal was trading 1.04 per cent higher at $58.53 per ounce in New York.