Silver futures were trading higher during evening trade in the domestic market on Tuesday as investors and speculators build up fresh bets in the precious metal as investors turned their attention towards testimony from the US Fed Chair Janet Yellen later in the day for hints on the central bank's interest rate strategy.

At the MCX, silver futures for March 2017 contract is trading at Rs 42520 per kg, up by 0.23 per cent, after opening at Rs 42549, against a previous close of Rs 42422. It touched the intra-day high of Rs 42575.