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Buoyed by a firm trend overseas, silver prices were sharply up by Rs 378 at Rs 39,365 per kg at the futures trade as speculators indulged in creating fresh positions.
At the Multi Commodity Exchange, silver for delivery in far-month July was trading higher by Rs 378 or 0.97 per cent at Rs 39,365 per kg, in a business turnover of 741 lots. Likewise, the white metal for delivery in May rose Rs 377 or 0.99 per cent to Rs 38,648 per kg in 2 lots.
Market analysts said speculative positions built up by participants at prevailing levels, mainly influenced silver futures. Meanwhile, silver was up 0.93 per cent at $16.29 an ounce in Singapore.
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