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Silver prices on Tuesday fell by ₹3,648 to ₹2,32,451 per kilogram in futures trade as participants reduced their bets.
On the Multi Commodity Exchange, silver contracts for September delivery declined by ₹3,648, or 1.55 per cent, to ₹2,32,451 per kg in a business turnover of 1,587 lots.
Analysts said a sell-off by participants mainly weighed on silver prices.
Globally, the white metal was trading 2.11 per cent lower at $60.73 per ounce in New York.