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Erasing initial losses, silver prices recovered by 1.60% to Rs 49,434 per kg in futures trading today as speculators creating fresh positions, driven by a firm global trend.
At the Multi Commodity Exchange, silver for delivery in March shot up by Rs 780, or 1.60%, to Rs 49,434 per kg in business turnover of 14,519 lots.
Similarly, silver for delivery in December traded higher by Rs 653, or 1.38%, to Rs 48,025 per kg in 166 lots.
Market analysts said speculators creating fresh positions in line with a firm global trend mainly pushed up silver prices at futures trade.
Meanwhile,silver advanced 3.6% to $22.17 an ounce in London.
