Silver prices were up sharply by Rs 328 to Rs 40,130 per kg in futures trade today after participants raised their bets amid firming global trends. At the Multi Commodity Exchange, silver for delivery in July was trading notably higher by Rs 328 or 0.82 per cent to Rs 40,130 per kg in a business turnover of 14,560 lots.
Similarly, the white metal for delivery in far-month September traded higher by Rs 323 or 0.80 per cent to Rs 40,597 per kg in a business volume of 310 lots. Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas.
Globally, silver zoomed 1.14 per cent to close at USD 17.31 an ounce in New York on Friday.