New Delhi: Tracking a firming trend in the global markets, silver moved up by 1.19 percent to Rs 51,939 per kg in futures trading on Tuesday.

At the Multi Commodity Exchange, silver for delivery in March rose by Rs 609, or 1.19 percent, to Rs 51,939 per kg, with a business turnover of 8,435 lots.

Likewise, the metal for delivery in May traded higher by Rs 589, or 1.12 percent, to Rs 53,050 per kg, with a trade volume of 286 lots.

Market analysts said the rise in silver futures prices was mostly supported by a firming trend overseas on reports of geopolitical tensions over Iran, spurring investors to buy the precious metal as a haven.

In the Asian region, silver prices rose by 1.51 percent to USD 28.28 an ounce in early trade on Tuesday.

(Agencies)