Silver prices shot up by Rs 457 to Rs 63,750 per kg in futures trading today on increased offtake by traders on hopes a rise in demand in the coming marriage season despite the metal's prices falling in the global markets.
At the Multi Commodity Exchange, silver for delivery in December shot up by Rs 457, or 0.72%, to Rs 63,750 per kg, with a business turnover of 27,851 lots.
Likewise, the metal for delivery in March jumped up by Rs 446, or 0.69%, to Rs 64,726 per kg, with a trade volume of 556 lots.
Market experts said increased offtake by traders on expectations of a rise in demand in the coming marriage season in the spot market mainly led to rise in silver prices at futures trade here.
Meanwhile, silver fell by 0.1% to USD 39.62 an ounce in London.
