Silver surges Rs 205 in futures trade

Silver prices spurted by Rs 205 to Rs 42,737 per kg in futures trade today as speculators built up positions, ignoring a weak global trend.
In futures trading at the Multi Commodity Exchange, silver for delivery in May was trading higher by Rs 205, or 0.48 per cent, to Rs 42,737 per kg in a business turnover of 781 lots.
Also, the white metal for delivery in far-month July was up by Rs 202, or 0.47 per cent, to Rs 43,194 per kg in 5 lots.
Analysts said the rise in silver prices at futures trade was mostly attributed to building up of fresh positions by speculators despite a weak trend in global market.

Meanwhile, silver fell 0.64 per cent to USD 17.83 an ounce in Singapore today.