Silver futures up on global trends

PTI New Delhi | Updated on March 09, 2011

Silver futures prices rose by 0.50 per cent to Rs 53,833 a kg in futures trade today as speculators created fresh positions on the back of a firming global trend.

At the Multi Commodity Exchange, silver for delivery in May rose by Rs 270 or 0.50 per cent to Rs 53,833 a kg, with an open interest of two lots.

Similarly, the white metal for delivery in July rose by Rs 266 or 0.48 per cent to Rs 54,700 a kg, with a business volume of a single lot.

Analysts said firming trend in the global markets as unrest in Libya spurred demand for the metal as a safe haven investment, influenced prices. Meanwhile, silver traded 0.39 per cent higher at $36.05 an ounce in New York last evening.

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Published on March 09, 2011
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