Silver futures prices moved up by Rs 315 to Rs 58,098 per kg today, taking positive cues from overseas markets.
Covering-up of short positions by speculators at prevailing levels, also supported the recovery in silver futures prices.
At the Multi Commodity Exchange, silver for delivery in March rose by Rs 315, or 0.55%, to Rs 58,098 per kg, with a business turnover of 619 lots.
May silver traded higher by Rs 289, or 0.48%, to Rs 59,919 per kg, with a trade volume of 2,738 lots.
Globally, silver surged 1.4% to $35.17 an ounce in early trade today in Singapore. It plunged 6% yesterday, the highest since December 14.
Market analysts said recovery in silver future prices was mostly attributed to a rebound in overseas markets as investors bought the metal at prevailing levels.