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Silver prices traded higher by 0.71 per cent at Rs 40,016 per kg at the futures trade as speculators created fresh positions amid a firm trend overseas.
At the Multi Commodity Exchange, silver for delivery in July month rose Rs 282 or 0.71 per cent to Rs 40,016 per kg in a business turnover of 707 lots. Similarly, the white metal for delivery in far-month September contracts were trading higher by Rs 262 or 0.65 per cent at Rs 40,525 per kg in 39 lots.
Market analysts said fresh positions built up by participants on the back of a firm trend overseas mainly led to the rise in silver prices at the futures trade. Meanwhile, silver rose 0.09 per cent to $16.51 an ounce in Singapore.
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