Silver prices surged to near record by gaining Rs 70 to Rs 33,380 per kg in futures market today, as speculators enlarged their positions, sparked by a firming global trend where it touched a 30-year high.
Pick up in demand in the spot market ahead of festival and marriage season also influenced the trading sentiment.
At the Multi Commodity Exchange counter, silver for July shot up by Rs 70, or 0.21 per cent, to Rs 33,380 per kg, with a business turnover of four lots.
The metal had set a record level of Rs 33,448 per kg on September 29.
Similarly, the metal for delivery in December edged up by Rs 42, or 0.13 per cent, to Rs 33,004 per kg, with a business volume of five lots.
Marketmen said speculators enlarged their positions in tandem with a firming global trend, which mainly led to an upsurge in silver prices at futures trade.
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They said the increased offtake by industrial units and coins manufacturers for the coming festivals and marriage season mainly kept the market in bullish mood.
Meanwhile, silver rose 0.2 per cent to $21.79 an ounce in Asian region, after yesterday touching $22.08, the highest level since 1980.