Buoyed by a firm global trend, silver prices traded sharply higher by Rs 403 at Rs 39,939 per kg at the futures trade today as speculators widened their positions.
At the Multi Commodity Exchange, silver for delivery in far-month May moved up by Rs 403 or 1.02 per cent at Rs 39,939 per kg in a business turnover of 18 lots. The white metal for delivery in March was trading higher by Rs 400 or 1.02 per cent at Rs 39,463 per kg in 1,163 lots.
Analysts said participants raised their bets amid a firm trend overseas. Silver prices rose 0.67 per cent to $17.32 an ounce in Singapore.