Silver moves up in futures trade on global cues
The March contract traded higher by Rs 339, or 0.55%, to Rs 62,090 per kg in 610 lots
Silver prices moved up by Rs 369 to Rs 60,250 per kg in futures trade today as speculators enlarged their positions, taking a positive cues from overseas markets.
At the Multi Commodity Exchange, the December contract shot up by Rs 369, or 0.62%, to Rs 60,250 per kg in business turnover of 11,247 lots.
The March contract traded higher by Rs 339, or 0.55%, to Rs 62,090 per kg in 610 lots.
Market analysts said increased buying by speculators on hopes a rise in demand in the spot market during festive season amid a firm global trend mainly pushed up silver futures.
Meanwhile, silver rose to a one-week high of $32.50 an ounce in Singapore.