Tracking gains in precious metals overseas silver prices moved up by 1.18% to Rs 52,624 per kg in futures trading today.
Market analysts attributed the rise in silver futures here to a firming trend in global markets as unrest in the West Asia and nuclear crisis in Japan boosted the demand for the precious metal as a safe haven investment.
At the Multi Commodity Exchange counter, silver for delivery in May gained Rs 612, or 1.18%, to trade at Rs 52,624 per kg, with a business turnover of 4,409 lots.
Likewise, the white metal for delivery in July moved up by Rs 619, or 1.17%, to Rs 53,183 per kg, with a business volume of 281 lots.
Globally, silver in Asian region, increased 1.7% to trade at $34.84 an ounce.