Tracking a firm trend overseas, silver prices surged by Rs 576 to Rs 45,849 per kg at the futures trading today as traders built up fresh positions.
At the Multi Commodity Exchange, silver for delivery in December soared Rs 576 or 1.27 per cent to Rs 45,849 per kg, in a business turnover of 894 lots.
Similarly, the white metal for delivery in far-month March too was trading higher by Rs 536 or 1.16 per cent at Rs 46,772 per kg in 9 lots.
Market analysts said that fresh positions created by participants in line with a firm trend in precious metals in global markets ahead of policy meetings at the US Federal Reserve and the Bank of Japan this week, mainly influenced silver prices at the futures trade.
Meanwhile, silver rose 1.92 per cent to $19.12 an ounce in Singapore.