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Silver futures prices surged to record high by gaining Rs 281 to Rs 52,200 a kg in futures trade on Tuesday on brisk buying by speculators, amid firm global trends.
At the Multi Commodity Exchange, silver for delivery in September rose by Rs 281, or 0.54 per cent, to Rs 52,200 per kg, a level never seen before. It recorded a significant rise in just single lot.
Similarly, the white metal for delivery in March rose by Rs 120, or 0.24 per cent, to Rs 49,970 per kg, with a business volume of just two lots.
Analysts said besides firming trend in precious metals in global markets, brisk buying by speculators on pick up in demand in the spot market mainly pushed up silver futures prices to record high.
Meanwhile, silver traded 0.44 per cent higher at $34.13 an ounce in Asia.
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