Silver prices surged by Rs 1,450 to hit a new high of Rs 70,462 a kg in futures trade today as speculators enlarged their positions on the back of a surging global trend.
At the Multi Commodity Exchange, silver for delivery in December jumped by Rs 1,450 or 2.10 per cent to Rs 70,462 a kg, with a business turnover of four lots.
Similarly, the white metal for delivery in May moved up by Rs 1,591 or 2.42 per cent to Rs 67,235 a kg, with a business volume of five lots.
Analysts said surging global trend and increased buying by speculators, mainly pushed the silver futures prices up to hit a record high.
Meanwhile, the white metal gained 1.5 per cent to $45.95 an ounce in Asian region.