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Silver moves up in futures trade on spot demand

December, March contracts gain 0.5% each as wedding season demand fuels price upsurge

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Press Trust of India India

Silver prices rose by Rs 333 to Rs 64,067 per kg in futures trade today after participants enlarged their positions, supported by a firming trend in the spot markets on wedding season demand.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 333, or 0.52 per cent, to Rs 64,067 per kg in business turnover of 2,637 lots.

March silver gained Rs 312, or 0.47 per cent, to Rs 66,065 per kg in 558 lots.

Marketmen said fresh positions created by speculators following a firming trend at the spot markets on marriage season demand helped silver futures to trade higher.

 

Meanwhile, silver traded almost steady at $34.17 an ounce in Singapore in early trade today.

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First Published: Nov 27 2012 | 1:57 PM IST

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