Silver prices went up by a whopping Rs 221 to Rs 40,054 per kg in futures trading today as participants widened their positions, tracking a firm trend in global market.
At the Multi Commodity Exchange, silver for delivery in December was trading notably higher by Rs 221, or 0.55 per cent, to Rs 40,054 per kg, in a business turnover of 607 lots.
Similarly, the white metal for delivery in March 2018 was up by Rs 203, or 0.50 per cent, to Rs 40,595 per kg in 10 lots.
Analysts attributed the rise in silver prices in futures trade to expanding of positions by speculators, tracking a firm trend in the precious metals overseas as the latest twist in tensions between the US and North Korea prompted investors to seek out the safe-haven asset.
Globally, silver rose 0.59 per cent to USD 17.03 an ounce in Singapore today.
Disclaimer: No Business Standard Journalist was involved in creation of this content
