Silver futures slump Rs 2,324 to Rs 97,429/kg

New Delhi: Silver prices on Thursday slumped Rs 2,324 to Rs 97,429 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for May delivery depreciated by Rs 2,324 or 2.33 per cent to Rs 97,429 per kg in a business turnover of 17,110 lots.

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

In the overseas markets, silver futures was trading 2.14 per cent lower at USD 33.15 per ounce in New York.