Silver prices moved up by Rs 242 to Rs 58,985 per kg in futures trade today, largely driven by a firming trend overseas.
At the Multi Commodity Exchange, silver for delivery in March shot up by Rs 242, or 0.41 per cent, to Rs 58,985 per kg in business turnover of 6,014 lots.
May silver traded higher by Rs 217, or 0.36 per cent, to Rs 60,330 per kg in 366 lots.
Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as concern about US debt ceiling weakened the dollar, increasing demand for bullion as a haven.
Meanwhile, silver rose as much as 0.40 per cent to $31.15 an ounce in Singapore.