Silver prices were up by 0.5 per cent to Rs 38,927 per kg at the futures trade as traders increased their bets amid a firm global trend.
At the Multi Commodity Exchange, silver for delivery in March moved up by Rs 194 or 0.50 per cent to Rs 38,927 per kg in a business turnover of 218 lots. Similarly, the metal for delivery in far-month May traded higher by Rs 168 or 0.43 per cent at Rs 39,431 per kg with a turnover of one lot.
Analysts attributed the rise in silver prices at the futures trade to a firm trend in precious metals overseas as the dollar slipped, raising demand for a safe-haven. Meanwhile, silver rose 0.35 per cent to $17.04 an ounce in New York yesterday.