Silver prices rose sharply by Rs 306 to Rs 38,51 per kg in futures trade today after speculators enlarged positions amid a firming trend overseas.
At the Multi Commodity Exchange, silver for delivery in far-month July was trading higher by Rs 306, or 0.80 per cent, to Rs 38,511 per kg in a business turnover of 75 lots.
Also, the white metal for delivery in May traded higher by Rs 287, or 0.76 per cent, to Rs 38,068 per kg in 7,864 lots.
Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas amid speculation US policy makers will hold off raising interest rates until later this year.
Meanwhile, silver traded 0.1 per cent higher at USD 16.99 an ounce in London.
