Silver surges 0.65 per cent in futures trade on global cues

Tracking a firming trend overseas, silver prices spurted by 0.65 per cent to Rs 43,683 per kg in futures trading after participants widened their bets in evening session.

The exchange remained closed in morning session for 'Mahashivratri'.

At the Multi Commodity Exchange, silver for delivery in far-month May spurted by Rs 280, or 0.65 per cent, to Rs 43,683 per 10 gram, with a business turnover of 58 lots.

On similar lines, the silver for delivery in March was trading higher by Rs 279, or 0.65 per cent, to Rs 43,135 per kg, with a trade volume of 323 lots.

The rise in silver prices was mostly attributed to raising of bets by speculators, driven by a firming trend in global markets as weakness in the dollar boosted demand for the precious metals as a safe-haven, market analysts said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)