Silver futures prices climbed to trade at record high of Rs 57,500 per kg today as speculators enlarged their positions, triggered by a firming global trend.
At the Multi Commodity Exchange, silver for December delivery rose by Rs 211, or 0.37 per cent, to a record high of Rs 57,500 per kg, with a trade volume of just one lot.
Similarly, the white metal for delivery in July contract rose by Rs 54, or 0.10 per cent, to Rs 56,155 per kg, with a business turnover of just one lot, while May contract moved up by Rs 45, or 0.08 per cent, to Rs 55,543 per kg, with a business turnover of just two lots.
Market analysts said increased buying by speculators buoyed by a firming global trend as concern that Portugal may have to seek a bailout and escalating unrest in Libya and the Middle East fueled demand for precious metals as a store of value.
Meanwhile, silver surged to $37.42 an ounce in Asian region, the highest level since 1980.
