Silver prices rose Rs 128 to Rs 40,181 per kg at the futures trade as speculators raised bets amid a firm trend in precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in far-month March was trading higher by Rs 255 or 0.62 per cent at Rs 40,181 per kg in a business turnover of 19 lots. In a similar fashion, silver for delivery in December shot up by Rs 122, or 0.31 per cent to Rs 39,514 clocking a business turnover of 181 lots.

Market analysts said fresh positions built by speculators in line with a firm trend in global markets for precious metals influenced silver prices at the futures trade. Meanwhile, silver was up 0.21 per cent at $17.11 an ounce in Singapore today.