Silver price futures climbed to new records on the Multi Commodity Exchange (MCX) as March contract hit a high of Rs 55,266 per kilogram in early trade and was seen at Rs 24,692 at 3.30 p.m Indian time.
Analysts also attributed silver's climb to position enlargement by speculators in line with firm global trends. December contract hit a high of Rs 53,950 before cooled to Rs 53,290 a kilogram at the same time.
Silver prices scaled up to new highs in India on Friday following strong global trends and also on increased physical buying. On the global scenario, Silver climbed to $33.14 an ounce in late Asian trade.
Analysts also attributed silver's climb to position enlargement by speculators in line with firm global trends. December contract hit a high of Rs 53,950 before cooled to Rs 53,290 a kilogram at the same time.
Silver prices scaled up to new highs in India on Friday following strong global trends and also on increased physical buying. On the global scenario, Silver climbed to $33.14 an ounce in late Asian trade.
Silver prices surged by 4.60% to Rs 53,952 per kg in futures trade today as speculators created fresh positions, triggered by a firm Asian trend. At the Multi Commodity Exchange, silver in December surged by Rs 2,375, or 4.60% to Rs 53,952 per kg in business turnover of 27,999 lots.
Similarly, for March delivery it jumped up by Rs 2,441, or 4.60% to Rs 55,330 per kg in 709 lots.
Fresh buying by speculators in tandem with a firming trend in Asian region mainly surge silver prices at futures trade.
Meanwhile, silver gained 3.4% to 31.79 dollar an ounce inSingapore, after tumbling 22.5% in the past three days.
Similarly, for March delivery it jumped up by Rs 2,441, or 4.60% to Rs 55,330 per kg in 709 lots.
Fresh buying by speculators in tandem with a firming trend in Asian region mainly surge silver prices at futures trade.
Meanwhile, silver gained 3.4% to 31.79 dollar an ounce inSingapore, after tumbling 22.5% in the past three days.
