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Tracking a firm trend overseas, silver prices moved sharply up by Rs 223 to Rs 39,400 per kg in futures trading today as traders built up fresh positions.
At the Multi Commodity Exchange, silver for delivery in far-month September was trading notably higher by Rs 223, or 0.57 per cent, at Rs 39,400 per kg in a business turnover of six lots.
Similarly, the white metal for delivery in July was trading higher by Rs 218, or 0.56 per cent, at Rs 38,962 per kg in 853 lots.
With the dollar slipping against a basket of major currencies, market analysts said, fresh positions created by participants in line with a firm trend in global markets mainly influenced silver prices in futures trade.
Meanwhile, silver rose 0.09 per cent to USD 16.85 an ounce in Singapore.