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Silver prices rose as much as 1.37 per cent to Rs 55,074 per kg at the futures trading today, as speculators enlarged their positions, driven by a rebound in global markets.
At the Multi Commodity Exchange, silver for delivery in December shot up by Rs 745 or 1.37 per cent to Rs 55,074 per kg with a business turnover of 3,393 lots. Likewise, March contract also moved up by Rs 720 or 1.28 per cent to Rs 56,800 per kg with an open interest of 419 lots.
In the Asian region, silver gained 1.1 per cent to $31.61 an ounce in early trade today.
Market traders attributed the recovery in silver prices at the futures trade to a rebound in precious metal in the overseas markets backed by a softer dollar and hopes that Italy may secure financial aid as Europe takes steps this week to ease funding strains on the euro zone’s troubled economies.
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