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NEW DELHI: Silver futures prices rose up to 1.03 per cent on Wednesday as speculators indulged in enlarging positions, driven by firming trend overseas amid short-covering.

At the MCX, silver for May contract shot up by 1.03 per cent to Rs 27,435 a kg in turnover in one lot, while delivery in March contract gained 0.38 per cent at Rs 27,348 a kg with turnover in 49 lots.

Similarly, silver for delivery in December contract traded 0.39 per cent higher at Rs 27,124 a kg. The contract clocked business turnover in 1,976 lots. Market analysts said besides firming trend in gold prices in the global markets where it surged to a record high of $1,089.10 an ounce in yesterday's trading, good demand in markets also supported the uptrend in silver prices at futures exchange here.

Meanwhile, silver in the global market traded at $17.36 an ounce. – PTI

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