Silver prices rose by Rs 1,802 to Rs 63,700 per kg in futures trade today on increased buying by speculators, driven by a firming global trend.
On the Multi Commodity Exchange, silver for delivery in May spurted by Rs 1,802, or 2.91%, to Rs 63,700 per kg, recording a business volume of two lots.
The white metal for September delivery rose by Rs 2,120, or 3.63%, to Rs 60,499 per kg, with a business volume of 13,746 lots.
Market analysts said trading sentiments turned bullish after the prices in overseas markets climbed as investors looked for safe haven after Standard and Poor's downgraded US' credit rating triggered a turmoil in the financial markets.
Meanwhile, silver prices surged as much as 5.7% to $40.40 an ounce in overseas markets.
