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Silver prices spurted by Rs 249 to Rs 36,623 per kg in futures trade today after investors created positions amid a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in March rose sharply by Rs 249, or 0.68%, to Rs 36,623 per kg in a business turnover of 1,043 lots.
On similar lines, the white metal for delivery in May was trading higher by Rs 224, or 0.61%, to Rs 36,898 per kg in 37 lots.
Analysts attributed the rise in silver prices at futures trade to speculative positions created by participants despite a weak trend in the precious metals overseas on signs of weaker demand in China and speculation that Greece will ease a standoff with creditors by asking for a loan extension.
Globally, silver dropped 0.40% to USD 16.46 an ounce in Singapore today.
