Silver futures up on global cues

PTI New Delhi | Updated on April 08, 2011

Silver continued its winning streak and advanced by 0.69 per cent to Rs 60,863 per kg at the futures trade today, taking positive cues from the global markets amid rising spot demand.

At the Multi Commodity Exchange, silver for delivery in December rose Rs 416 or 0.63 per cent to Rs 60,863 per kg with an open interest of a single lot. Similarly, the white metal for delivery in May gained Rs 389 or 0.67 per cent to Rs 58,325 per kg with a business volume of two lots.

Analysts said besides a firming trend overseas, as financial turmoil in Europe and fighting in Libya bolstered its demand, domestic demand at the spot market also pushed up silver futures prices.

Meanwhile, silver gained 0.7 per cent to trade at the highest level since 1980 of $39.97 an ounce in the Asian region.

Published on April 08, 2011

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