Silver prices rose by 0.47 per cent to Rs 40,723 per kg in futures trade today as speculators built up fresh positions.
At the Multi Commodity Exchange, silver for delivery in far-month September went up by Rs 190, or 0.47 per cent to Rs 40,723 per kg in business turnover of 131 lots.
Similarly, the white metal for delivery in July contract was trading higher by Rs 171, or 0.43 per cent to Rs 40,098 per kg in business turnover of 901 lots.
Market analysts attributed the rise in silver futures to fresh positions created by participants following uptick in demand in the spot market.