Silver futures rose over 1%  during evening trade in the domestic market on Tuesday as investors and speculators extended their positions in the precious metal on safe-haven demand amid lingering concerns over UK’s impending break from the EU and fears over US policy ahead of the President-elect Trump's inauguration on January 20.

Investors keenly eyed the British Prime Minister Theresa May’s speech today in which she may say that the UK is likely to pull out of the single market for goods and services and seek a completely new trading relationship with the bloc.

At the MCX, silver futures for March 2017 contract is trading at Rs 41,446 per kg, up by 1.19 per cent, after opening at Rs 41,114, against a previous close of Rs 40,960. It touched the intra-day high of Rs 41,547.