Silver prices inched higher by Rs 88 at Rs 39,015 per kg at the futures trade as speculators indulged in creating fresh positions, even as the metal weakened overseas.
At the Multi Commodity Exchange, silver for delivery in May was trading higher by Rs 88 or 0.23 per cent at Rs 39,015 per kg in a business turnover of 366 lots. Likewise, the white metal for delivery in far-month July rose Rs 78 or 0.20 per cent to Rs 39,555 per kg in 34 lots.
Market analysts said speculative positions built-up by participants at prevailing levels influenced silver futures but a weak trend overseas capped the gains. Meanwhile, silver was down 0.03 per cent at $16.62 an ounce in Singapore.