Silver rises on spot demand, global cues
September contract grows by almost 0.3%
Silver futures prices rose by Rs 152 to Rs 52,980 per kg today on pick-up in demand in the spot market supported by the festive season amid a firm global trend.
At the Multi Commodity Exchange, silver for delivery in September rose by Rs 152, or 0.29% to Rs 52,980 per kg in business turnover of 5,843 lots.
December silver gained Rs 147, or 0.27%, to Rs 54,695 per kg in 237 lots.
Analysts said that besides the pick up in demand in the spot market following the festive season, a firm global trend led to the rise in silver futures.
Meanwhile, silver rose 0.3% to $27.06 an ounce in Singapore.