Silver prices spurted by Rs 404 to Rs 40,425 per kg in futures trade today as the metal gained in global markets amid geopolitical tensions.
In futures trade at the Multi Commodity Exchange, silver for delivery in this month surged Rs 404, or 1.01 per cent, to Rs 40,425 per kg in a business turnover of 20 lots.
The metal for delivery in far-month December too was trading higher by Rs 364, or 0.89 per cent, to Rs 41,290 per kg in 996 lots.
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Market analysts said participants built up positions amid a firm global trend after North Korea's latest nuclear test drove investors towards safe-haven assets.
Meanwhile, silver surged 0.64 per cent to USD 17.81 an ounce in Singapore.
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