IE:Silver price moves up in futures trade on spot demand
Silver prices rose by Rs 333 to Rs 64,067 per kg in futures trade today after participants enlarged their positions, supported by a firming trend in the spot markets on wedding season demand.
At the Multi Commodity Exchange, silver for delivery in December rose by Rs 333, or 0.52 per cent, to Rs 64,067 per kg in business turnover of 2,637 lots.
Likewise, the white metal for delivery in the March contract gained Rs 312, or 0.47 per cent, to Rs 66,065 per kg in 558 lots.
Marketmen said fresh positions created by speculators following a firming trend at the spot markets on marriage season demand helped silver futures to trade higher.
Meanwhile, silver traded almost steady at USD 34.17 an ounce in Singapore in early trade today.
