Silver prices shot up Rs 157 to Rs 38,861 per kg in futures trade today as speculators widened positions, tracking a firming trend in the precious metals overseas.
In futures trading at the Multi Commodity Exchange, silver for delivery in July surged by Rs 157, or 0.41 per cent, to Rs 38,861 per kg in a business turnover of 977 lots.
The white metal for delivery in September was trading higher by Rs 147, or 0.38 per cent, to Rs 39,275 per kg in 312 lots.
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Market analysts said speculative position built up by participants, driven by firm global trend, mainly attributed to the rise in silver prices at futures trade here.
Meanwhile, silver surged 0.46 per cent to USD 16.88 an ounce in Singapore.
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