Silver prices went up by Rs 603 to Rs 48,725 per kg at the futures trading today as participants widened their positions, tracking a firm trend in global market.
At the Multi Commodity Exchange, silver for delivery in far-month December was trading higher by Rs 603 or 1.25 per cent at Rs 48,725 per kg in a business turnover of 47 lots.
Similarly, the white metal for delivery in September was up by Rs 595 or 1.27 per cent at Rs 47,614 per kg in 1,608 lots.
Analysts said a firm trend overseas, where silver rallied after the US Federal Reserve indicated it would take a slow, measured approach to any interest rate hikes amid a weak dollar raising demand for the safe-haven, mainly influenced the white metal prices at the futures trade.
Globally, silver rose 3.75 per cent to $20.32 an ounce in New York yesterday.