Mumbai, Dec 23 (TIWN) Prices of precious metals rose on Monday, with futures of silver surging over 3 per cent on the Multi-Commodity Exchange (MCX).

The March contract of silver on the MCX is currently trading at Rs 70,479, higher by Rs 2,572 or 3.79 per cent from its previous close.

Gold futures on the MCX also rose and crossed Rs 51,000 per 10 gram level before shedding the gains. The February contract of gold was trading at Rs 50,785, higher by Rs 481 or 0.96 per cent from its previous close.