Silver up on higher global cues

Silver prices spurted by Rs 1,046 to Rs 63,200 per kg in futures trade today, as speculators created fresh positions in tandem with a firm global trend.

At the Multi Commodity Exchange, September silver spurted by Rs 1,046, or 1.68%, to Rs 63,200 per kg, with a business turnover of 671 lots.

The December contract shot up by Rs 994, or 1.55%, to Rs 65,139 per kg, with a trade volume of 12,663 lots.

Market analysts said fresh buying by speculators on the back of a firm global trend, mainly pushed up silver futures prices.

Meanwhile, silver rose by 1.5% to $42.21 an ounce in London.