Silver prices moved up by Rs 273 to Rs 58,496 per kg in futures trade on Tuesday

Silver prices moved up by Rs 273 to Rs 58,496 per kg in futures trade on Tuesday due to increased offtake by speculators amid a firming global trend.

At the Multi Commodity Exchange, silver for delivery in May rose by Rs 273, or 0.47 per cent, to Rs 58,496 per kg, with a business turnover of 363 lots.

The metal for delivery in March traded higher by Rs 255, or 0.45 per cent, to Rs 57,247 per kg, with a business turnover of 9,995 lots.

Market analysts said besides increased offtake by speculators to meet the marriage season demand, reports of a firming global trend mainly led to a rise in silver futures prices.

Meanwhile, silver rose 0.4 per cent to USD 33.64 an ounce in global markets. – PTI

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Posted by Silver Guru on Jan 31 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