Silver futures at record high on firming global trend

Silver prices climbed to a record high of 35,250 per kg in futures trade today, as speculators built up fresh positions, driven by a rally in global markets.

In addition, increased demand in the spot markets for the ongoing festive and marriage season, also supported the uptrend.

At the Multi Commodity Exchange counter, silver for July- month surged by Rs 256, or 0.73 per cent, to hit a record high of Rs 35,250 per kg, with a business volume of four lots.

Similarly, the metal for delivery in December gained Rs 219, or 0.63 per cent, to Rs 34,920 per kg, with an open interest of one lot.

Marketmen said fresh buying by speculators and reports of firming trend in prices in global markets mainly led to a rise in silver prices.

Meanwhile, silver traded higher 0.78 per cent to $23.40 an ounce in Asian region.