Silver prices went up by Rs 299 to trade at Rs 39,895 per kg in futures trading today as participants indulged in enlarging positions amid a firm trend in precious metals overseas. In futures trading, silver for delivery in December was sharply up by Rs 299, or 0.76 per cent, at Rs 39,895 per kg at the Multi Commodity Exchange, in a business turnover of 805 lots. Likewise, the white metal for delivery in March next year spurted Rs 276, or 0.69 per cent, to Rs 40,489 per kg in six lots. Analysts said widening of positions by speculators in step with a firm trend in the precious metals overseas influenced silver prices at futures trade.
Besides, dollar's weakness, fueled the trend. Meanwhile, silver was up 0.68 per cent to USD 16.93 an ounce in Singapore today.