Silver prices rose 1.12 per cent to Rs 38,000 per kg at the futures market today as participants created fresh positions owing to a firm trend in global markets.
At the Multi Commodity Exchange, silver for delivery in March jumped Rs 422 or 1.12 per cent to Rs 38,000 per kg in a business turnover of 1,189 lots. The metal for delivery in May gained Rs 396 or 1.04 per cent to Rs 38,503 per kg in 67 lots.
Analysts said fresh positions by speculators in step with a firm trend in global markets mainly influenced silver prices at the futures trade. Silver rose 0.80 per cent to $16.46 an ounce in Singapore.