Silver futures prices on Tuesday spurted by 1.57 per cent to Rs 54,630 per kg as speculators created positions even as metal declined in Asian trade.
At 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 business turnover of 905 lots.
On the similar lines,the white metal for delivery in far-month December traded Rs 829,or 1.51 per cent,higher at Rs 55,660 per kg in a turnover of 91 lots.
In the international market,silver,however,declined 1 per cent to USD 24.07 an ounce after climbing to USD 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 metal’s weakness overseas,capped the gains.