Silver rose over 1 per cent to Rs 54,434 per kg at the futures market today, largely in tune with a firming trend in the global markets.
At the Multi Commodity Exchange, silver for delivery in March shot up by Rs 633 or 1.1 per cent to Rs 54,434 per kg in a business turnover of nine lots. Similarly, the metal for delivery in May gained Rs 42 or 0.08 per cent to Rs 54,862 per kg in 1,327 lots.
Market analysts said the rise in silver prices at the futures trade was mostly attributed to fresh positions created by speculators, driven by a firming trend overseas.
Globally, the white metal traded 0.6 per cent higher at $28.74 an ounce in Singapore today.