Continuing its upward journey for the second straight day, silver futures gained 0.85 per cent in afternoon trade on the Multi Commodity Exchange (MCX) today on increased buying by speculators, largely in tandem with a firming global trend.
At 1400 hrs on the MCX platform, silver for the most-active September contract inched up by 0.85 per cent to Rs 23,889 per kg, with an open interest in 2,072 lots.
Similarly, the metal for delivery in July gained 0.76 per cent to Rs 23,736 per kg, in trading of 11,581 lots.
Market analysts said a firming trend in the global markets, after the US currency weakened against other currencies raising precious metals appeal an alternative investment, mainly lifted silver futures prices.
Meanwhile, silver rose 0.60 per cent to $15.33 an ounce in Asian trading.
