Tracking a firm trend in precious metals overseas, silver futures rose by 1.48% to trade at Rs 59,336 per kg today as speculators indulged in enlarging their positions.
Also, a firm trend at the domestic spot market, driven by marriage season demand, also influenced the it prices in the futures trade.
At the Multi Commodity Exchange, silver for September delivery went up by a whopping Rs 863, or 1.48%, to Rs 59,336 per kg, with a trade volume of 2,425 lots.
Similarly, the metal for December delivery moved up by Rs 854, or 1.43%, to Rs 60,395 per kg, with a turnover of 100 lots.
Market analysts said the persistent rise in silver futures has been mainly due to a firm trend overseas on concerns of the debt crisis in Europe, fuelling the metal's demand as an alternative investment option.
Meanwhile, silver shot up by 1.5% to $39.75 an ounce in Asian region, the highest level since May 4.
