Riding high on the back of firming trend overseas, silver continued its upward journey and rose by another 0.53 per cent to Rs 61,200 per kg in futures trade today.
In addition, firming trend at the domestic spot markets on marriage season demand also influenced the metal prices at futures trade.
At the Multi Commodity Exchange, silver for December delivery surged by Rs 320, or 0.53%, to Rs 61,200 per kg, with a trade volume of 68 lots.
Similarly, the metal for September delivery imoved up by Rs 375, or 0.46%, to Rs 60,148 per kg, with a trade turnover of 1,253 lots.
Market analysts said the rise in silver futures was mostly due to a firming trend overseas, where it topped $40 an ounce as concern over Europe's debt crisis, spurred demand for the metal as an alternative investment.
Silver climbed 3.26% to $40.55 an ounce, the highest level since May 4, in New York yesterday.
