Silver shot up by 0.39% to Rs 52,770 per kg in futures trade today

Silver shot up by 0.39% to Rs 52,770 per kg in futures trade today, as speculators built up fresh positions, taking positive cues from global markets.

At the Multi Commodity Exchange, March silver rose by Rs 204, or 0.39%, to Rs 52,770 per kg, with a business volume of 2,031 lots.

The May delivery moved up by Rs 210, or 0.36%, to Rs 53,869 per kg, with a trade turnover of 68 lots.

Market analysts attributed recovery in silver at futures market to a firming global trend after a weaker dollar spurred demand for the precious metals as an safe haven.

Meanwhile, silver futures climbed 3.6% to $29.81 an ounce in New York’s Comex last night after hitting a high of $30.31, the highest since December 14.- PTI

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 11 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