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Nickel futures surge during evening trade in the domestic market on Monday as investors and speculators widened their positions in the industrial metal after softness in the US dollar against a basket of other leading currencies, and inflation expectations. 

Further, traders have ploughed into metals on signs of a global recovery, improving the demand outlook for metals, as well as optimism that the US economy is strong enough to withstand higher interest rates. Hard assets are an attractive hedge against inflation as they tend to hold their value as rates rise, cooling gains in other asset classes. 

 At the MCX, nickel futures for November 2016 contract is trading at Rs 805.90 per kg, up by 0.81 %, after opening at Rs 796.10, against a previous close of Rs 799.40. It touched the intra-day high of Rs 816.50.