Silver futures regain 43k per kg level on Brexit

Silver regained Rs 43,000 per kg level with prices soaring by 3.64 per cent to Rs 43,480 per kg in futures trade today as speculators indulged in creating huge positions amid a positive global trend.
Besides, sliding rupee which plunged to a low of Rs 68.21 also influenced white metal prices.
At the Multi Commodity Exchange, silver for delivery in far-month September shot up by Rs 1,528 or 3.64 per cent to Rs 43,480 per kg in a business turnover of 934 lots.
Similarly, the white metal for delivery in July was trading higher by Rs 1,546 or 3.75 per cent to Rs 42,736 per kg in 5,690 lots.

Market analysts said besides speculative position created by participants, a frantic global hunt for haven assets as Britain's voters were projected to back leaving the European Union after a historic poll, supported the upside, they added.
Demand for safe haven assets like gold soared as the Britain's pound plummeted to its lowest level in more than three decades after Brexit vote, pulling down financial markets globally.
Meanwhile, silver climbed 2.81 per cent to USD 17.