India, June 23 -- Silver futures rebounded by Rs 5,146 to Rs 2.38 lakh per kg on Monday, tracking firm global trends amid progress in US-Iran negotiations.

On the Multi Commodity Exchange (MCX), the white metal for July delivery increased by Rs 5,146, or 2.21 per cent, to Rs 2,38,331 per kg in a business turnover of 10,463 lots.

Similarly, the September contract also advanced by Rs 5,076, or 2.13 per cent, to Rs 2,43,817 per kg in 5,110 lots.

Analysts said silver prices rebounded following signs of diplomatic progress between Washington and Tehran, easing traders' concerns after weeks of heightened tensions in West Asia.

"Silver prices saw a modest recovery in the domestic markets on Monday as progress in US-Iran peace talks provided ...