Silver rise to record in futures trade on firm global cues

Silver prices rose to record by gaining Rs 173, or 0.58 per cent, to Rs 30,088 per kg in futures trade today on brisk buying by speculators amid firming global trend.

At the Multi Commodity Exchange, silver for December contract rose by Rs 173, or 0.58 per cent, to Rs 30,088 per kg, with an open interest of 283 lots.

Similarly, the metal for delivery in July contract moved up by Rs 159, or 0.53 per cent, to Rs 29,963 per kg, with an open interest of 13,809 lots.

Marketmen said brisk buying by speculators after reports of a firming trend in global markets pushed up silver prices to a record high in futures trade. Meanwhile, silver added 0.1 per cent to $19.10 an ounce in London.