Silver futures up 0.5% on Asian cues
Silver prices rose by 0.5% to Rs 58,465 per kg in futures trading today, taking positive cues from Asian markets.
At the Multi Commodity Exchange, silver for September delivery rose by Rs 340, or 0.5%, to Rs 58,465 per kg, with a trade volume of 1,432 lots.
December silver moved up by Rs 340, or 0.5%, to Rs 59,714 per kg, with a trade turnover of 100 lots.
Market analysts said the rise in silver futures was mostly due to a firming trend overseas as concern that global economic growth may be slowing overshadowed a US debt deal reached in time to avoid a default, spurring demand for precious metals.
Silver climbed 0.5% to $39.47 an ounce in the Asian region.