Comments
Silver shot up by 0.4 per cent to Rs 53,600 per kg at the futures trade today as speculators built-up fresh positions, taking positive cues from global markets.
At the Multi Commodity Exchange, silver for delivery in March rose Rs 213 or 0.4 per cent to Rs 53,600 per kg with a business volume of 3,159 lots. Likewise, the metal for delivery in May moved up by Rs 208 or 0.38 per cent to Rs 54,710 per kg with a trade turnover of 117 lots.
Market analysts said the rise in silver prices at the futures trade was mostly supported by a firming trend in the overseas markets as a weaker dollar generated demand for the precious metals as an alternative investment.
Meanwhile, silver gained 1.1 per cent to $30.87 an ounce in London last night, the highest level since December 14.
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.