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Silver prices soared by Rs 697 to Rs 38,046 per kg in futures trade today after participants built up positions taking positive cues from overseas markets.
At the Multi Commodity Exchange, silver prices for delivery in May spurted by Rs 697, or 1.87%, to Rs 38,046 per kg in business turnover of 941 lots.
Similarly, the metal for delivery in far-month July contracts traded Rs 695, or 1.84%, higher at Rs 38,473 per kg in 21 lots.
Analysts said the rise in silver prices at futures trade was mostly in line with a firming trend in the global market as dollar weakened after data showing the weakest pace of US hiring in more than a year clouded the outlook for interest-rate increases.
Globally, silver gained 0.2% to $17.10 an ounce in Singapore.
