Silver prices shot up by 2.45 per cent in futures trading today on increased buying by traders in line with a firming trend in overseas bullion markets.
Silver for delivery in March spurted 2.45 per cent to Rs 21,954 per kg on the Multi Commodity Exchange (MCX) in a trading volume of 5,195 lots.
May silver jumped 2.24 per cent to Rs 22,188 per kg in a trading of 359 lots and July contract by 2.22 per cent to Rs 22,402 per kg in trading of seven lots.
Buying activity picked up as both gold and silver rallied in overseas markets. Silver gained 0.21 cent to $13.94 an ounce abroad.
Meanwhile, in Singapore, gold rallied over $960 an ounce, the highest in seven months, as investors bought the metal as an alternative to slumping equities and to preserve their wealth as the global economy sags.
