Silver prices went up by Rs 407 to trade at Rs 39,880 per kg at the futures trade as participants indulged in enlarging positions amid a firm trend in precious metals overseas.

Silver for delivery in December was up by Rs 407 or 1.03 per cent at Rs 39,880 per kg at the Multi Commodity Exchange in a business turnover of 54 lots. Likewise, the white metal for delivery in September spurted Rs 395 or 1.02 per cent to Rs 39,258 per kg in 492 lots.

Analysts said widening of positions by speculators in step with a firm trend in global markets, as the dollar slipped against a basket of major currencies after the release of the minutes from Federal Reserve’s July meeting at which policymakers voted unanimously to keep US interest rates unchanged, influenced silver prices at the futures trade.

Meanwhile, silver was up 0.15 per cent at $17.13 an ounce in Singapore.