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Silver futures up by 1.20% on global cues

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Press Trust of India New Delhi

Tracking a firming trend in the global markets, silver moved up by 1.19% to Rs 51,939 per kg in futures trading today.

At the Multi Commodity Exchange, silver for delivery in March rose by Rs 609, or 1.19%, to Rs 51,939 per kg, with a business turnover of 8,435 lots.

Likewise, the metal for delivery in May traded higher by Rs 589, or 1.12%, to Rs 53,050 per kg, with a trade volume of 286 lots.

Market analysts said the rise in silver futures prices was mostly supported by a firming trend overseas on reports of geopolitical tensions over Iran, spurring investors to buy the precious metal as a haven.

In the Asian region, silver prices rose by 1.51% to $28.28 an ounce in early trade today.

 

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First Published: Jan 03 2012 | 2:05 PM IST

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