Silver futures rebound on better offtake
Silver futures price inched up 0.24 per cent on the Multi Commodity Exchange(MCX) today on speculators extending postions influenced by a better trend in the spot market ahead of the festive season.
On the MCX counters, silver for far-month December recovered by 0.24 per cent to Rs 22,350 per kg with an open interest of 626 lots. It ended 0.15 per cent lower in yesterday's trading.
Similarly, Silver for delivery in September month contract gained 0.22 per cent to Rs 22,226 with an open interest of 10,920 lots.
Marketmen said increased offtake in the spot market ahead of festive season helped silver prices to trade higher at futures market here.