Silver futures scale yet another high of Rs 68,180/kg

Surpassing all records, silver futures climbed 0.70% to trade at a record high of Rs 68,180 per kg today as speculators engaged in building up huge positions, after the metal climbed to a 31-year high in global market.

Firming trend at the domestic markets due to the marriage season demand, also influenced the silver futures prices.

At the Multi Commodity Exchange, silver for delivery in December gained Rs 475, or 0.70% to trade at new high of Rs 68,180 per kg, with a business turnover of a single lot.

Similarly, the white metal for delivery in May moved up by Rs 398, or 0.62% to Rs 64,993 per kg, with a business volume of one lot.

Globally, silver in the Asian region gained 0.8%, to trade at $44.32 an ounce, the highest price since 1980.

Analysts said a firming trend in precious metals overseas, as the dollar weakened on mounting debt in the US and Europe, prompted investors to seek precious metals as a store of value.