Silver prices went up by Rs 296 to Rs 42,498 per kg at the futures trade as participants widened their positions, tracking a firm trend in global markets.

At the Multi Commodity Exchange, silver for delivery in May was trading higher by Rs 296 or 0.7 per cent at Rs 42,498 per kg in a business turnover of 746 lots.

Similarly, the white metal for delivery in far-month July was up by Rs 268 or 0.63 per cent at Rs 42,953 per kg in 29 lots.

Analysts enlarged their positions in tandem with a firm trend in global markets, where silver rallied as continued geopolitical tensions raised the metal’s appeal as a safe haven.

Globally, silver rose 0.71 per cent to $18.46 an ounce in New York yesterday.