Riding high on positive global cues, silver prices spurted by Rs 302 to Rs 37,835 per kg in futures trade today as participants created fresh speculative positions.
At the Multi Commodity Exchange, silver for delivery in far-month May contract shot up by Rs 302, or 0.80 per cent, to Rs 37,835 per kg in a business volume of 15 lots.
Also, the white metal for delivery in March traded higher by Rs 155, or 0.42 per cent, to Rs 37,181 per kg in 602 lots.
Analysts said fresh positions created by speculators in tune with gains in bullion in global markets due to slumping equity markets and concern that Greece may quit the euro area spurred demand for the precious metals, mainly influenced silver prices in futures trade here.
Meanwhile, silver increased 0.3 per cent to USD 16.24 an ounce in Singapore today.