Silver futures surge 0.33% on global cues

Speculation that moves by central banks around the world will boost demand for precious metals influences prices

Supported by a firm trend in the global market, silver prices spurted by Rs 205 to Rs 62,310 per kg in futures trade today.

At the Multi Commodity Exchange, silver for delivery in December surged by Rs 205, or 0.33%, to Rs 62,105 per kg, with a business turnover of 2,147 lots.

March silver gained Rs 191, or 0.30%, to Rs 64,010 per kg, with a business volume of 50 lots.

Marketmen said the rise in silver futures prices was in line with a strong global trend on speculation that moves by central banks around the world will boost demand for the precious metals.

Globally, silver traded a shade higher at $35.05 an ounce.