Silver futures prices spurted by 1.57 per cent to Rs 54,630 per kg today as speculators created positions even as the white metal declined in Asian trade.
On the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 843 or 1.57 per cent to Rs 54,630 per kg in a business turnover of 905 lots.
Similarly, the white metal for delivery in far-month December traded higher by Rs 829 or 1.51 per cent at Rs 55,660 per kg in a turnover of 91 lots.
In the international market, silver, however, declined 1 per cent to $24.07 an ounce after climbing to $24.41 yesterday, the highest since May.
Market analysts said the rise in silver futures was mostly attributed to huge positions created by speculators, but the metal’s weakness overseas capped the gains.