Silver futures up on increased offtake

Silver futures today moved up by Rs 358 to Rs 58,690 per kg on increased offtake by traders, driven by a pick-up in demand at existing low levels.

At the Multi Commodity Exchange, March silver rose by Rs 358, or 0.6%, to Rs 58,690 per kg, with a business turnover of 157 lots.

The May delivery moved up by Rs 203, or 0.34%, to Rs 60,520 per kg, in 5,504 lots.

Analysts said increased offtake by traders on the back of a rise in demand at prevailing lower levels mainly pushed up silver prices at futures market.