Silver futures prices moved up by over 2% to Rs 52,671 per kg as traders enlarged their positions on the back of a firming trend overseas.
Also, a firming spot markets trend on rising demand, driven by the ongoing marriage season also supported the upside in the silver prices at futures trade here.
At the Multi Commodity Exchange, silver for delivery in July climbed Rs 1,040, or 2.01% to Rs 52,671 per kg, with a business turnover of 4,085 lots.
The September contract also rallied by Rs 1,052, or 2.01% to trade at Rs 53,390 per kg, with a business turnover of 119 lots. Silver in the Asian region gained 2.01% to $34.18 an ounce in early trade today.
Analysts said a firming trend in overseas as signs of a slowdown in the global economy and financial turmoil in Europe bolstered the demand for precious metals as alternative investment.
