Silver Futures Rise on Strong Spot Demand
Silver futures prices climbed on the Multi Commodity Exchange (MCX) due to increased spot demand and positive domestic trends. Global silver prices also rose slightly.
New Delhi, Aug 27 (PTI) Silver prices on Tuesday rose Rs 54 to Rs 85,722 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange, silver contracts for September delivery increased Rs 54 or 0.06 per cent to Rs 85,722 per kg in 17,661 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 0.03 per cent higher at USD 30.47 per ounce in New York.
On the Multi Commodity Exchange, silver contracts for September delivery increased Rs 54 or 0.06 per cent to Rs 85,722 per kg in 17,661 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 0.03 per cent higher at USD 30.47 per ounce in New York.
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