Silver futures up 0.32%
Supported by wedding season and a weak rupee, prices soar
Tracking a firming trend in spot markets, silver moved up by Rs 176, or 0.32%, to Rs 55,478 per kg in futures trading today.
However, a weakening trend in Asian trade, capped the gains at futures trade here.
At the MCX. silver for delivery in May rose by Rs 176, or 0.32%, to Rs 55,478 per kg, with a business turnover of 160 lots.
The july contract was up Rs 115, or 0.20%, to Rs 57,126 per kg, with a trade volume of 1,901 lots.
Market analysts said a firming trend in spot markets on the back of ongoing wedding season helped silver futures to trade higher but weakness in metal overseas, restricted the gains.
Globally, silver fell 0.06% to $30.95 an ounce in early trading in Singapore.