silver futures rise on global demand

NEW DELHI: Buoyed by a firm trend in global markets, silver futures prices rose sharply by 1.74 per cent to Rs 40,593 per kg today.

At the Multi Commodity Exchange platform, silver for delivery in December contract shot up by a whopping Rs 694, or 1.74 per cent to Rs 40,593 per kg, clocking a turnover of three lots.

The silver for delivery in March contract also shot up by Rs 633, or 1.65 per cent to Rs 40,800 per kg, with a turnover of 36 lots.

Globally, silver in the Asian spot trading gained 0.85 per cent, to trade at USD 27.37 an ounce.

Analysts said firm trend in precious metals in global markets on speculation that the recovering global economies would spur demand for commodities, supported the upside in silver futures prices here.

Newminer.