Tracking a firming trend in precious metals overseas, silver prices soared by Rs 214 to Rs 38,232 per kg in futures trade today as speculators widened their positions.
In futures trading at the Multi Commodity Exchange, silver for delivery in July was trading higher by Rs 214, or 0.56 per cent, to Rs 38,232 per kg in a business turnover of 98 lots.
The white metal for delivery in far-month September also rose by Rs 189, or 0.49 per cent, to Rs 38,689 per kg in 1 lot.
Market analysts said speculative position built up by participants, driven by firm global trend, mainly contributed to the rise in silver prices at futures trade here.
Meanwhile, silver surged 0.49 per cent to USD 16.39 an ounce in Singapore.
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