Comments
Supported by a firming trend overseas, silver prices rose by 1.20 per cent to Rs 59,420 per kg in futures trade today as speculators enlarged their positions.
At the Multi Commodity Exchange, silver for delivery in September rose sharply by Rs 702 or 1.20 per cent to Rs 59,420 per kg, with a business turnover of 1,683 lots.
Similarly, the metal for delivery in December moved up by Rs 671 or 1.12 per cent to Rs 60,678 per kg, with a trade turnover of 76 lots.
Analysts attributed the rise in silver futures prices to a firming trend in precious metals in the global markets.
In addition, a firming trend in the domestic bullion market on the back of marriage season demand also supported the upside, they added.
Meanwhile, silver shot up by 2.18 per cent to $39.92 an ounce in New York yesterday.
Comments
COMMENT NOW
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.