Silver futures gain on global cueshttps://indianexpress.com/article/business/market/silver-futures-gain-on-global-cues/

Silver futures gain on global cues

Pick-up in demand in the spot market also supported the uptrend in silver prices.

Tracking a firming global trend,silver futures prices recovered by 0.68 per cent to Rs 53,495 per kg today as speculators created fresh positions.

Pick-up in demand in the spot market also supported the uptrend in silver prices.

At the Multi Commodity Exchange,silver for delivery in July gained Rs 461,or 0.68 per cent,to Rs 53,495 per kg,with a business turnover of 2,930 lots.

Likewise,the metal for delivery in September moved up by Rs 367,or 0.67 per cent,to Rs 54,845 per kg in 258 lots.

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Market analysts said besides a firming global trend,fresh buying by speculators mainly helped silver futures prices to trade higher.

Meanwhile,silver rose sharply by 2.86 per cent to USD 28.05 an ounce in Singapore.