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Silver prices moved up by 0.21 per cent at Rs 40,724 per kg at the futures trade due to building of fresh positions by speculators on firm global cues.
At the Multi Commodity Exchange, silver for delivery in September rose Rs 86 or 0.21 per cent to Rs 40,724 per kg in a business turnover of four lots. Similarly, the white metal for delivery in July gained Rs 31 or 0.08 per cent to Rs 40,075 per kg in 147 lots.
Market analysts said fresh positions created by participants on the back of better trend in global markets led to the rise in silver futures. Meanwhile, silver rose 0.03 per cent to $16.49 an ounce in Singapore.
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