Silver futures surge 0.66% on upbeat demand

Silver futures traded higher 0.66 percent at Rs 38,515 per kg Friday after speculators raised bets, driven by a firm trend overseas.

Silver for delivery in May traded higher by Rs 252, or 0.66 percent, at Rs 38,515 per kg in a business turnover of 19,353 lots at the Multi Commodity Exchange.

In a similar manner, the white metal to be delivered in July rose by Rs 270, or 0.7 percent, at Rs 38,515 per kg in 563 lots.

Analysts said widening of positions by traders, in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

In the international market, silver traded higher at USD 15.48 an ounce in Singapore.