Silver futures prices rose to record high levels today by surging Rs 705 to Rs 47,016 per kg, as speculators enlarged their positions bolstered by reports it rising to 30-year high in rest of the Asian region.
At the Multi Commodity Exchange counter, silver for September delivery rose by Rs 705, or 1.45 per cent, to Rs 47,016 per kg, with a trade volume of just one lot.
Similarly, the metal for delivery in March shot up by Rs 204, or 0.44 per cent, to Rs 46,468 per kg, with a trade volume of just one lot.
Market analysts said speculators enlarged their positions on pick up in demand in the spot market amid firming global trend mainly led the silver futures to record high.
Meanwhile, silver prices shot up to 30-year high level by adding 0.32 per cent to $31.01 an ounce in Asian region.