Silver Futures Surge on Strong Spot Demand
May 16, 2024 13:15
Silver prices climbed in futures trading on Thursday, driven by increased spot demand. The rise was attributed to positive domestic trends and fresh positions built by participants.
New Delhi, May 16 (PTI) Silver prices on Thursday climbed Rs 168 to Rs 87,033 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange, silver contracts for July delivery increased Rs 168 or 0.19 per cent to Rs 87,033 per kg in 29,388 lots.
Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend.
Globally, silver was trading lower 0.10 per cent at USD 29.70 per ounce in New York.
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