At the Multi Commodity Exchange, silver for delivery in May month rose by Rs 197, or 0.51 per cent to Rs 39,138 per kg in business turnover of 133 lots.
Likewise, the white metal for delivery in March contracts was trading higher by Rs 182, or 0.47 per cent to Rs 38,585 per kg in 550 lots.
Market analysts attributed the rise in silver futures to widening of bets by participants on back of positive trend in global market supported by a weaker dollar.