Silver prices shot up by 3.32 per cent to Rs 46,276 per kg in futures trade today as speculators created fresh positions, tracking a firming trend in overseas markets.
At the Multi Commodity Exchange, silver for delivery in September spurted by Rs 1,489, or 3.32 per cent to Rs 46,276 per kg in business turnover of 21,451 lots.
In a similar fashion, the white metal for delivery in December shot up by Rs 1,416, or 3.10 per cent to Rs 47,065 per kg in 572 lots.
Analysts said the rise in silver futures was mostly attributed to a firming trend in global markets as Middle East tension spurred safe-haven demand.
Meanwhile, silver rose 1.2 per cent to USD 21.38 an ounce, after touching USD 21.41, the highest since March 17 in London.
