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Silver futures prices moved up by over 2 per cent to Rs 52,671 per kg as traders enlarged their positions on the back of a firming trend overseas.
Also, a firming spot market trend on rising demand, driven by the ongoing marriage season also supported the upside in prices at the futures trade here.
At the Multi Commodity Exchange, silver for delivery in July climbed by Rs 1,040 or 2.01 per cent to Rs 52,671 per kg with a business turnover of 4,085 lots. Similarly, September contract also rallied by Rs 1,052 or 2.01 per cent to Rs 53,390 per kg with a business turnover of 119 lots.
In the Asian region, silver gained 2.01 per cent to $34.18 an ounce in the early trade today.
Analysts said a firming trend in the overseas market as signs of a slowdown in the global economy and financial turmoil in Europe bolstered the demand for precious metals as an alternative investment.
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