Silver futures prices spurted by 2.05% to Rs 58,472 per kg today on brisk buying by speculators in line with a firming global trend.
Market analysts said the buying activity in silver gathered momentum after reports the metal in overseas markets climbed concerned over deepening European sovereign debt crisis.
On the Multi Commodity Exchange, silver for September delivery shot up by Rs 1,175, or 2.05%, to Rs 58,472 per kg, with a trading volume of 524 lots.
The July contract rose by Rs 1,171, or 2.07%, to Rs 57,725 per kg, clocking a business volume of 11,688 lots, while December silver gained Rs 944, or 1.61%, to Rs 59,300 per kg, with a trade volume of 24 lots.
Meanwhile, silver in overseas markets rose by 1.94% to $37.91 an ounce.
