Silver prices rose sharply higher by Rs 201 to reach Rs 40,072 per kg in futures trading today as speculators created fresh positions amid firm trend in precious metals overseas.
At the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 201, or 0.50 per cent, at Rs 40,072 per kg, in a business turnover of 7 lots.
Likewise, the white metal for delivery in March was trading higher by Rs 163, or 0.41 per cent, to Rs 39,458 per kg in 598 lots.
Analysts said, fresh positions built by speculators in line with a firm trend global markets for precious metals, influenced silver prices at futures trade.
Meanwhile, silver was up 0.47 per cent at USD 16.02 an ounce in Singapore today.
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