Silver prices fell by Rs 525 to Rs 1,06,562 per kilogram on Tuesday, as market participants reduced their bets.

On the Multi Commodity Exchange (MCX), silver contracts for July delivery declined by 0.49% or Rs 525, settling at Rs1,06,562 per kg with a turnover of 21,551 lots.

Analysts attributed the drop to profit booking and sell-offs at prevailing price levels.