Silver futures on Monday plunged Rs 1,392 to Rs 39,502 per kg as participants cut down their bets taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 1,392, or 3.4 per cent, to Rs 39,502 per kg in a business turnover of 2,488 lots.

Besides, the white metal to be delivered in July fell by Rs 1,410, or 3.43 per cent, to Rs 39,743 per kg in 104 lots.

In the international market, silver prices traded 3.26 per cent lower at USD 14.06 an ounce in New York.

Analysts said weak trend overseas mainly kept pressure on silver prices here.