Silver futures were up 5.37 percent or Rs 2,212 to Rs 43,435 per kg.
The metal price has tested 2002 highs but has so far failed to sustain above the $1,700 per troy ounce.
The price of 24-carat gold decreased by Rs 10 per 10 grams to Rs 43,160. At the same time, the price of 22-carat gold also fell by Rs 10 per 10 grams to Rs 39,510.
Spot gold was up 0.4% at $1,577.83 per ounce, as of 0030 GMT, having slumped 3.1% in the previous session. U.S. gold futures slipped 0.3% to $1,591.30.
On Monday, the prices of silver in the futures market fell sharply. On May 5, silver futures on MCX closed at Rs 39,835 per kg, down 2.59 percent or Rs 1059 on Monday.
The gold price declined on Monday. The price of 24-carat gold fell by Rs 1925 to Rs 43,375 per 10 grams. At the same time, the price of 22-carat gold also fell. 10 grams of gold fell by Rs 1940 to Rs 39,830.
Talking about the global market, the global spot gold fell 0.78 percent or $ 12.76 to $ 1,618.58 an ounce on Friday evening, and the global silver spot fell 0.38 percent or $ 0.05 to $ 14.35 an ounce.
Gold on Tuesday went lower by Rs 80 to Rs 39,719 per 10 gram in the national capital following weak global cues and rupee appreciation, according to HDFC Securities.
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