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Silver prices rose by 0.48% to Rs 43,630 per kg in futures trade today largely in tune with a rising trend in precious metals overseas amid covering-up of pending short positions by speculators.
At the Multi Commodity Exchange, the May contract traded higher by Rs 207, or 0.48%, to Rs 43,630 per kg in business turnover of 1,072 lots.
The July contract traded Rs 212, or 0.48%, higher at Rs 44,390 per kg in a turnover of 103 lots.
In the international market, silver bounced 1.10%, to trade at $23.50 an ounce in Singapore after three sessions of losses.
Market analysts said besides short-covering by speculators, a recovery in the global market as some investors have created short positions in the past few days, influenced silver prices at futures trade here.
