Silver prices rose by Rs 310 to Rs 55,263 per kg in futures market

Silver prices rose by Rs 310 to Rs 55,263 per kg in futures market today, due to increased offtake by speculators driven by rising spot demand for the ongoing marriage season amid a firming Asian trend.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 310, or 0.56%, to Rs 55,263 per kg, with a business turnover of 159 lots.

Similarly, the metal for delivery in March moved up by Rs 168, or 0.29% to Rs 57,490 per kg, with a trade volume of 4,574 lots.

Market analysts said apart from increased offtake by speculators following the ongoing marriage season demand in the spot market amid a firming trend in Asia, mainly pushed up silver futures prices.

Meanwhile, silver traded higher by 0.31% to $32.83 an ounce in the Asian region.  - PTI

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Posted by Silver Guru on Dec 2 2011. 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