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Silver prices soared Rs 286 to Rs 40,698 per kg at the futures trade as speculators widened their bets owing to a firm global trend.
At the Multi Commodity Exchange, silver for delivery in July shot up Rs 286 or 0.71 per cent to Rs 40,698 per kg in a business turnover of 253 lots. The white metal for delivery in far-month September was trading higher by Rs 278 or 0.68 per cent at Rs 41,346 per kg in 44 lots.
Market analysts said speculative position created by participants, driven by a firm global trend, mainly influenced the futures trade here. Meanwhile, silver rose 0.60 per cent to $16.87 an ounce in Singapore.
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