Silver prices jumped Rs 379 or 0.71 per cent to Rs 53,850 per kg at the futures trade today as speculators created positions largely in tandem with a firm overseas trend.
On the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 379 or 0.71 per cent at Rs 53,850 per kg in a business turnover of 1,195 lots.
Likewise, the white metal for delivery in December traded higher by Rs 389 or 0.71 per cent to Rs 54,850 per kg in 105 lots.
Market analysts said fresh positions created by speculators largely in tandem with a firm trend overseas, as investors weighed the outlook for US stimulus with a slump in new-home sales boosting the case for sustained debt-buying, influenced silver prices at the futures trade.
Meanwhile, in Singapore silver climbed one per cent to $24.30 an ounce, the highest price since May 6.