Silver up on higher global trend

Prices up 2% in Singapore

Buoyed by the firm global trend, silver prices moved up by Rs 466 to Rs 54,677 per kg in futures trade today on increased buying by traders.

At the MCX, silver for delivery in July shot up by Rs 466, or 0.86%, to Rs 54,677 per kg, with a business turnover of 13,068 lots.

The September contract jumped by Rs 389, or 0.81%, to Rs 56,070 per kg in 725 lots.

Market analysts said increased buying by traders on the back of pick up in demand in the spot market amid a higher global trend mainly pushed up silver prices at futures market.

Meanwhile, silver rose 2% to $29.06 an ounce in Singapore.