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Silver prices surged by 1.25% to Rs 48,798 per kg in futures trading today as speculators created fresh positions, taking positive cues from the global market.
At the Multi Commodity Exchange, silver for delivery in December rose by Rs 603, or 1.25%, to Rs 48,798 per kg in business turnover of 708 lots.
Likewise, silver for delivery in March 2014 contracts traded higher by Rs 554, or 1.12%, to Rs 50,035 per kg in 14 lots.
Analysts said the rise in silver futures was mostly on the back of a firming trend in precious metals in the global markets on speculation that the US Federal Reserve would not start tapering until 2014.
Meanwhile, silver advanced 0.43% to $22.05 an ounce in Singapore.
