Silver at three-year high, hits Rs 44,000 a kg in Mumbai's spot market

Silver rose to a three-year high on Tuesday, crossing Rs 44,000 per kg in Mumbai’s spot market. The metal was a laggard for some time but it seems to have bounced back, with short positions in international exchanges getting covered. It closed Rs 1,205 higher, at Rs 44,280 per kg, a price last seen in November 2016. Standard gold closed Rs 600 higher at Rs 37,796 per 10 grams.

October gold on the MCX rose to Rs 35,600,, while September silver hit  Rs 44,500 levels. Ajay Kedia, director Kedia Commodities said, “strong safe-haven demand amid political tensions in Hong Kong