Silver futures up on Asian cues

Silver futures prices rose by Rs 239 to Rs 57,980 per kg today on increased buying by speculators buoyed by a firming trend in Asian region.

Sentiments remained firm as silver traded near a 31-year high in London and climbed to record level in the domestic markets here.

At the Multi Commodity Exchange, silver for delivery in far-month December contract rose by Rs 239, or 0.41%, to Rs 57,980 per kg, with a business volume of just one lot.

Likewise, the white metal for delivery in May moved up by Rs 215, or 0.39%, to Rs 55,682 per kg, with a trade volume of just two lots.

Traders said a firming trend in Asian region and the white metal climbing to record levels in the national capital mainly pushed up the white metal's futures prices.

Meanwhile, silver traded 0.08% higher at $37.47 an ounce in Asian region. The silver in Delhi rose to Rs 56,400 per kg, a level never seen before.