Silver futures on increased offtake

Silver futures price moved up by 0.56 per cent on the Multi Commodity Exchange(MCX) today as speculators increasing their fresh positions ahead of marriage season.     

On the MCX counter, silver for December-month contract went up by 0.56 per cent to Rs 23,583 per kg, with an open interest in 3,420 lots.     

Similarly, the metal for delivery in September-month contract gained 0.55 per cent to Rs 23,423 per kg, clocking an open interest of 8,311 lots.     

Market experts said fresh buying by speculators ahead of marriage season mainly led to a rise in silver prices at futures market here.