Silver prices soared by Rs 151 to Rs 40,529 per kg in futures trade today as speculators widened positions, tracking a firming trend in the precious metals overseas.
In futures trade at the Multi Commodity Exchange, silver for delivery in December surged Rs 151, or 0.37 per cent, to Rs 40,529 per kg in a business turnover of 270 lots.
The white metal for delivery in September too was trading higher by Rs 128, or 0.32 per cent, to Rs 39,855 per kg in 1,538 lots.
Market analysts said speculative position built up by participants, driven by firm global trend, after North Korea fired a ballistic missile over Japan,boosting demand for havens amid escalating tensions between Pyongyang and the US and its allies, mainly attributed to the rise in silver prices at futures trade here.
Meanwhile, silver surged 0.09 per cent to USD 17.44 an ounce in Singapore.
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