Silver prices rallied nearly 2% in futures trade on Tuesday, supported by strong gains in international markets as investors monitored developments in West Asia and awaited key economic data from the United States.

On the Multi Commodity Exchange of India, the silver contract rose Rs 5,054, or 1.9%, to Rs 2,71,217 per kg, with a business turnover of 10,497 lots.

The sharp rise in silver prices reflected positive global trends and increased investor interest in precious metals amid geopolitical uncertainty and expectations surrounding upcoming US economic indicators.