Silver prices surged in futures trade on Monday as ongoing uncertainty surrounding the West Asia peace negotiations boosted safe-haven demand for the precious metal.

On the Multi Commodity Exchange, silver contracts for July delivery rose by Rs 3,068, or 1.21%, to Rs 2,56,333 per kilogram, with a business turnover of 2,150 lots.

Market analysts attributed the rise in silver prices to fresh buying and position building by traders amid heightened geopolitical tensions and cautious global sentiment.