Tracking a firming trend in the precious metals overseas, silver prices soared by Rs 97 to Rs 39,145 per kg in futures trade today as speculators widened their positions.
In futures trade at the Multi Commodity Exchange, silver for delivery in December surged by Rs 97 Or 0.25 per cent to Rs 39,145 per kg in a business turnover of 159 lots.
The white metal for delivery in far-month March 2018 was trading higher by Rs 84 or 0.21 per cent to Rs 39,780 per kg in 7 lots.
Market analysts said speculative position built up by participants, driven by firm global trend as weakness in dollar, raised appeal for the precious metals as a safe haven, mainly attributed to the rise in silver prices at futures trade here.
Meanwhile, silver surged 0.18 per cent to USD 16.83 an ounce in Singapore.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)