Silver prices rebounded sharply in futures trade, rising by Rs 6,911 to around Rs 2.26 lakh per kilogram on Friday, as investor sentiment improved following a temporary easing of tensions between the US and Iran.

On the Multi Commodity Exchange (MCX), silver contracts for May delivery jumped 3.14 percent to Rs 2,26,785 per kg. This comes after a steep decline in the previous session, where prices had fallen by Rs 14,960, or 6.37 percent, to settle at Rs 2,19,874 per kg.

Commodity markets had remained closed during the morning session on Thursday due to Ram Navami and resumed trading later in the evening session.