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Silver prices surged 1.25 per cent to Rs 48,798 per kg at the futures trading today as speculators created fresh positions, taking positive cues from the global market.
On the Multi Commodity Exchange, silver for delivery in December rose Rs 603 or 1.25 per cent to Rs 48,798 per kg in a business turnover of 708 lots.
Likewise, the white metal for delivery in March traded higher by Rs 554 or 1.12 per cent to Rs 50,035 per kg in 14 lots.
Analysts said the rise in silver futures was mostly on the back of a firm trend in precious metals in the global market on speculation that the US Federal Reserve would not start tapering until 2014.
Meanwhile, silver advanced 0.43 per cent to $22.05 an ounce in Singapore.
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