Silver futures crossed a crucial Rs 45,000 per kg mark for the first time today, as speculators created huge positions, driven by a firm trend overseas amid rising demand at spot markets for the ongoing marriage season.
At the Multi Commodity Exchange counter, silver for delivery in July contract crossed Rs 45,000 points level for the first time ever in futures trade to trade Rs 591, or 1.25 per cent higher at Rs 45,098 per kg, with an open trade of just one lot.
The silver for delivery in March contract also shot up by Rs 589, or 1.24 per cent to an all-time high of Rs 44,850 per kg, clocking a turnover of just one lot.
Globally, silver in the Asian region, gained 1.63 per cent, to trade at $29.86 an ounce.
Analysts said a firm trend in precious metals in global markets after Federal Reserve Chairman Ben S Bernanke said the central bank may buy more bonds, boosting demand for precious metals as alternative assets, helped silver futures to breach the crucial Rs 45,000-mark here.
Besides, a firm trend at domestic markets on strong demand following the ongoing marriage season, also influenced futures silver prices, they said.
