Silver prices moved up by Rs 132 to Rs 62,447 per kg in futures trade today on increased offtake by traders, driven by pick up in spot market demand for the festive season.
At the Multi Commodity Exchange, silver for delivery in March rose by Rs 132, or 0.21%, to Rs 62,447 per kg, with a business turnover of 235 lots.
December silver gained Rs 93, or 0.15%, to Rs 60,667 per kg, with a business turnover of 4,672 lots.
Marketmen attributed the rise in silver futures to increased offtake by traders to meet the ongoing festive season demand amid a firm global trend.
Meanwhile, silver traded higher by 0.73% to $33.20 an ounce in New York last night.