Silver futures jump to Rs 42,590 per kg

New Delhi (July 15) Silver prices spurted nearly 1 per cent to Rs 42,590 per kg at the futures trade today as participants engaged in creating speculative positions, tracking a firm trend in base metals overseas.

On the Multi Commodity Exchange, silver for delivery in far-month December traded higher by Rs 417 or 0.99 per cent to Rs 42,590 per kg in a business turnover of 33 lots.

Similarly, the metal for delivery in September traded higher by Rs 290 or 0.94 per cent at Rs 41,870 per kg in a turnover of 1,648 lots.

In the international market, the white metal climbed 1.2 per cent to $20.17 an ounce in Singapore.

Market analysts attributed the gains in silver prices at the futures trade to a sustained rise in white metal prices in the global market, after US Federal Reserve Chairman Ben Bernanke had said last week that its stimulus drive would be kept in place for some time.