Tracking a firming trend in the precious metals overseas, silver prices soared by Rs 101 to Rs 41,824 per kg in futures trade today as speculators widened their bets. In futures trading at the Multi Commodity Exchange, silver for delivery in far-month March next year contracts shot up by Rs 101 or 0.24 per cent to Rs 41,824 per kg in a business turnover of 2 lots. The white metal for delivery in December was trading higher by Rs 61 or 0.15 per cent to Rs 41,277 per kg in 184 lots. Market analysts said speculative position created by participants, driven by firm global trend, mainly influenced silver futures prices here. Globally, silver rose 0.70 per cent to USD 17.88 an ounce in New York yesterday.
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