Silver moved up 0.87 per cent to Rs 56,901 per kg in futures market

Taking positive cues from global markets, silver moved up 0.87 per cent to Rs 56,901 per kg in futures market today.

At the Multi Commodity Exchange, silver for delivery in March spurted Rs 512, or 0.87 per cent, to Rs 56,901 per kg, with a turnover of 4,793 lots.

Likewise, the metal for delivery in May traded higher by Rs 377, or 0.85 per cent, to Rs 58,097 per kg, with a trade volume of 324 lots.

Analysts said the silver futures prices rose because of fresh positions by speculators, following a firm trend in the precious metals in the overseas markets amid weak US dollar.

Globally, silver prices rose 0.60 per cent to USD 33.47 an ounce in New York in yesterday’s trade.

Tags: price of silver, Silver, silver analysis, silver futures, silver futures prices, silver news, silver price, silver prices, silver spot, spot silver

Posted by Silver Guru on Jan 27 2012. Filed under Silver prices. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry