Silver futures jumps on global cues

PTI New Delhi | Updated on February 28, 2011

Buoyed by a firming overseas trend, silver futures prices shot up by over one per cent to Rs 51,307 per kg as traders enlarged their positions.

Firming trend in the spot market on rising demand, driven by the ongoing marriage season, too supported the uptrend in silver prices at the futures trade here.

At the Multi Commodity Exchange, silver for delivery in May climbed by Rs 536 or 1.06 per cent to trade at Rs 51,307 per kg with a business turnover of 4,275 lots.

Similarly, March contract also rallied by Rs 400 or 0.94 per cent to trade at Rs 50,571 per kg with a business turnover of 7,347 lots.

Silver in the Asian region, gained 0.45 per cent to trade at $33.55 an ounce.

Analysts said a firming trend in precious metals in the global market due to fears of violent unrest in Libya, continued to boost the demand.

Published on February 28, 2011

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