Silver futures climbs to an all-time high level on global cues

Tracking a firming global trend,silver prices climbed to an all-time level of Rs 65,005 per kg in futures trade today on increased buying by speculators. Buying in silver gathered momentum as the metal climbed to a 31-year high in overseas markets.

At the Multi Commodity Exchange,silver for December delivery surged by Rs 374,or 0.58 per cent,to Rs 65,000 per kg,with a trade volume of just one lot.

Similarly,the metal for delivery in May jumped up by Rs 332,or 0.54 per cent,to Rs 61,836 per kg,with a business turnover of two lots. Market analysts said heavy buying by speculators on the back of rising global trend mainly pushed up silver futures prices to record high.

Meanwhile,silver climbed 0.6 per cent to USD 42.42 an ounce in Asian region,the highest level since 1980.