Silver prices witnessed a sharp rebound on Wednesday, surging by Rs 12,861 to Rs 2.36 lakh per kg in futures trade, supported by a weaker US dollar and easing inflation concerns.

On the Multi Commodity Exchange (MCX), May contracts jumped nearly 6% to Rs 2,36,802 per kg, snapping a 10-day losing streak.

The rally in silver was driven by strong bullish sentiment in global precious metals markets and improved investor demand, analysts said.