Buoyed by a firming trend overseas and strong demand in the domestic market, silver continued on its winning streak in futures trade today, with prices rising by another 0.37% to Rs 59,944 per kg.
At the Multi Commodity Exchange, silver for delivery in far-month March gained Rs 246, or 0.37%, to Rs 59,944 per kg, with a trading volume of 107 lots.
In a similar fashion, silver for delivery in December gained Rs 243, or 0.34%, to Rs 58,338 per kg in 2,363 lots.
Market analysts said the continued rise in silver prices in futures trade here was due to a firming trend overseas as concerns about Europe's debt woes spurred demand for a protection of wealth, amid strong demand in the domestic bullion market for the ongoing marriage season.
Silver prices shot up by 0.43% to $35.16 an ounce in the Asian region.
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