Supported by a firming trend overseas, silver prices surged by Rs 166 to Rs 53,224 per kg in futures trading today as speculators enlarged their positions.
On the Multi Commodity Exchange, silver for delivery in July surged by Rs 166, or 0.31%, to Rs 53,224 per kg, with a business turnover of 2,937 lots.
September silver gained Rs 127, or 0.24%, to Rs 54,065 per kg, with a trading volume of 129 lots.
Market analysts said fresh positions created by speculators on the back of a firming trend overseas and a pick-up in spot demand mainly supported the increase in silver futures prices.
Meanwhile, silver futures rose by 1.19% to $35.81 an ounce in New York.
