Silver futures surge 0.78% on strong global cues

Speculation that US, China will raise stimulus to boost their economies raises demand

Tracking a firm trend in global as well as domestic spot markets, silver prices surged by Rs 499 to Rs 64,389 per kg in futures trade today.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 499, or 0.78%, to Rs 64,389 per kg, with a business turnover of 2,874 lots.

The March contract gained Rs 494, or 0.75%, to Rs 66,118 per kg, with a business volume of 131 lots.

Marketmen said the rise in silver futures prices was in line with a strong global trend on speculation that the US and China will raise stimulus to boost their economies.

 

Globally, silver rose 0.21% to $33.75 an ounce in Singapore.