Silver futures up over one per cent on Asian cues

Silver for delivery in March moved up by,1.13%,to Rs 65,975 per kg,with trade turnover of 55 lots.

Silver prices rose by 1.17 per cent to Rs 64,530 per kg in futures trade today as speculators created fresh positions,taking positive cues from Asian markets.

At the Multi Commodity Exchange,silver for delivery in December rose by Rs 644,or 1.17 per cent,to Rs 64,530 per kg,with a trade volume of 3,006 lots.

Similarly,the metal for delivery in far-month March moved up by Rs 734,or 1.13 per cent,to Rs 65,975 per kg,with a trade turnover of 55 lots.

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Market analysts said the rise in silver futures was mostly in line with a firm trend on the other Asian markets as euro debt crisis boosted demand for the precious metal as an alternative investment.

In the Asian region,silver rates climbed one per cent to $40.69 an ounce in the morning trade today,rebounding from a two-day fall.

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