Silver up 0.82% on global cues

Easing Eurozone concerns triggered buying sentiment in the precious metal market overseas

Tracking a firming trend in global markets, silver futures prices today moved up by 0.82% to Rs 54,889 per kg.

At the MCX, silver for delivery in July rose by Rs 447, or 0.82%, to Rs 54,889 per kg, with a business turnover of 3,944 lots.

The September contract traded higher by Rs 435, or 0.78%, to Rs 56,260 per kg, with a trade volume of 154 lots.

Market analysts said reports of a firming trend overseas on the back of finance ministers and central bank governors from the world’s leading economies agreeing to coordinate their response to the region's crisis influences silver futures in the international markets.

Globally, silver was up 1.2% to $28.86 an ounce in Singapore, the highest since May 21.