Silver prices traded higher by 0.71 per cent to Rs 40,016 per kg in futures market today as speculators created fresh positions amid a firm trend overseas.
At the Multi Commodity Exchange, silver for delivery in July month rose by Rs 282, or 0.71 per cent to Rs 40,016 per kg in business turnover of 707 lots.
Similarly, the white metal for delivery in far-month September contracts were trading higher by Rs 262, or 0.65 per cent to Rs 40,525 per kg in 39 lots.
Market analysts said fresh positions built up by participants on the back of a firm trend overseas mainly led to the rise in silver prices at futures trade.
Meanwhile, silver rose 0.09 per cent at USD 16.51 an ounce in Singapore today.
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