Silver was up 0.09 pct at $20.28 an ounce. Silver futures advanced during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal tracking a bullish trend in the overseas market as a weaker dollar bolstered the lure for the bullion as an alternative asset. Softer greenback makes silver cheaper for those holding other currencies, thus boosting demand for the precious metal.

The dollar retreated against a basket of major currencies even as Federal Reserve Bank of Kansas City President Esther George resumed her call for higher US interest rates after last week’s robust jobs data. 

At the MCX, Silver futures for September 2016 contract is trading at Rs 48,155 per 10 grams, up by 0.72 per cent, after opening at Rs 48,060, against a previous close of Rs 47,812. It touched the intra-day high of Rs 48,244.

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