Silver futures up by 1.19 pct on global cues

In the Asian region,silver prices rose by 1.51 per cent to USD 28.28 an ounce in early trade today.

Written by Agencies | New Delhi | Published:January 4, 2012 12:04 pm

Tracking a firming trend in the global markets,silver moved up by 1.19 per cent to Rs 51,939 per kg in futures trading today.

At the Multi Commodity Exchange (MCX),silver for delivery in March rose by Rs 609,or 1.19 per cent,to Rs 51,939 per kg,with a business turnover of 8,435 lots.

Likewise,the metal for delivery in May traded higher by Rs 589,or 1.12 per cent,to Rs 53,050 per kg,with a trade volume of 286 lots.

Market analysts said the rise in silver futures prices was mostly supported by a firming trend overseas on reports of geopolitical tensions over Iran,spurring investors to buy the precious metal as a haven.

In the Asian region,silver prices rose by 1.51 per cent to USD 28.28 an ounce in early trade today.

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