Comments
Silver futures prices climbed to trade at record high of Rs 57,500 per kg on Thursday as speculators enlarged their positions, triggered by a firming global trend.
At the Multi Commodity Exchange, silver for December delivery rose by Rs 211, or 0.37 per cent, to a record high of Rs 57,500 per kg, with a trade volume of just one lot.
Similarly, the white metal for delivery in July contract rose by Rs 54, or 0.10 per cent, to Rs 56,155 per kg, with a business turnover of just one lot, while May contract moved up by Rs 45, or 0.08 per cent, to Rs 55,543 per kg, with a business turnover of just two lots.
Market analysts said increased buying by speculators buoyed by a firming global trend as concern that Portugal may have to seek a bailout and escalating unrest in Libya and the Middle East fuelled demand for precious metals as a store of value.
Meanwhile, silver surged to $ 37.42 an ounce in Asian region, the highest level since 1980.
Comments
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.