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Silver prices remain up on overseas cues

Silver for delivery in far-month December rose by Rs 404,or 0.70 per cent,to Rs 58,282 per kg.

Written by Agencies | New Delhi | Published: June 14, 2012 11:21:19 am

Taking positive cues from the overseas markets and firm spot demand,silver maintained its upward journey with prices rising further by 0.70 per cent to Rs 58,282 per kg in futures trade on Thursday.

At the Multi Commodity Exchange,silver for delivery in far-month December rose by Rs 404,or 0.70 per cent,to Rs 58,282 per kg,with a business turnover of 1 lot.

Likewise,the metal for delivery in September traded higher by Rs 213,or 0.38 per cent,to Rs 56,588 per kg,with a business volume of 71 lots.

Globally,silver traded 0.90 per cent higher at USD 29.12 an ounce in Singapore.

Market analysts attributed persistent rise in silver prices at futures trade to a firming trend overseas along with firm demand at domestic spot markets.

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