ALSO READGlobal Markets: Ebbing risk appetite grounds Asian stocks, dollar sulks as euro strengthens Global markets: Dollar hits seven-month low, stocks, oil retreat as caution reigns Global markets: Dollar dented by jobs miss, London attacks hurt sterling; stocks subdued Global Markets: Gasoline futures surge as Harvey swamps Texas, euro holds at 2-1/2 year high Global Markets: Dollar rebounds, Asia stocks gain as North Korea missile test fears recede
Tracking a firm trend overseas, silver prices surged by Rs 35 to Rs 40,362 per kg in futures trading today as traders built up fresh positions.
At the Multi Commodity Exchange, silver for delivery in March gained Rs 35, or 0.09 per cent, to Rs 40,362 per kg, in a business turnover of six lots.
The white metal for delivery in December too was trading higher by Rs 13, or 0.03 per cent at Rs 40,362 per kg in 132 lots.
Market analysts said fresh positions created by participants in line with a firm trend of the precious metal in global markets, mainly influenced silver prices at futures trade.
Meanwhile, silver rose 0.27 per cent to USD 16.99 an ounce in Singapore.