Silver prices shot up by 0.73% to Rs 61,327 per kg in futures trading today largely supported by a firming trend overseas as a weaker dollar spurred demand for the precious metals an alternative investment.

At the Multi Commodity Exchange, silver for delivery in March spurted by Rs 444, or 0.73%, to Rs 61,327 per kg, with a business turnover of 9,622 lots.

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Analysts said the rise in silver futures prices was mostly supported by a firming trend in the precious metals overseas as a weakening dollar raised demand for the precious metals as a safe haven.

Globally, silver prices moved up by 4.15% to $36.93 an ounce in New York on Tuesday.

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