Silver prices went up by Rs 221 to Rs 40,054 per kg at the futures trade as participants widened their positions, tracking a firm trend in global market.
At the Multi Commodity Exchange, silver for delivery in December was trading notably higher by Rs 221 or 0.55 per cent at Rs 40,054 per kg in a business turnover of 607 lots. Similarly, the white metal for delivery in March 2018 was up by Rs 203 or 0.50 per cent at Rs 40,595 per kg in 10 lots.
Analysts attributed the rise in silver prices at the futures trade to expanding of positions by speculators, tracking a firm trend in the precious metals overseas, as the latest twist in tensions between the US and North Korea prompted investors to opt for the safe-haven asset.
Globally, silver rose 0.59 per cent to $17.03 an ounce in Singapore today.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.