Silver futures surge 0.61% on global cues

Silver futures traded higher by 0.61 percent at Rs 38,686 per kg on March 12 after speculators raised bets, driven by a firm trend overseas. Silver for delivery in May traded higher by Rs 236, or 0.61 percent, at Rs 38,686 per kg in a business turnover of 18,145 lots at the Multi Commodity Exchange.

In a similar manner, the white metal to be delivered July also rose by Rs 174, or 0.45 percent, to Rs 39,184 per kg in 360 lots.

Analysts said widening of positions by traders, in sync with a firm trend on global markets for precious metals, influenced silver prices at futures trade here.