NEW DELHI: Silver crossed the Rs 32,000 per kg level to trade higher by Rs 178 or 0.55 per cent to an all-time high of Rs 32,250 per kg at the futures trade on firming global cues.
Besides, covering-up of pending short positions also, helped silver to trade at record highs.
At the Multi Commodity Exchange counter, March contract crossed the Rs 32,000 level by adding Rs 178 or 0.55 per cent to trade at an all-time high of Rs 32,250 per kg, with a business turnover of 1,412 lots.
“Apart from firming trend in global markets, boost in seasonal demand in domestic markets on account of festive and marriage season, also helped silver to hit record highs,” said an analyst.
Meanwhile, in the Asian region silver in spot trading gained 0.3 per cent to $20.53 an ounce, the best level in two-and-a-half years.
Similarly, December contract moved up by Rs 175 or 0.54 per cent to Rs 32,139 per kg with an open interest of 38,381 lots.
Analysts said firming trend in global markets, which generally determine the precious metal prices, mainly buoyed the trading sentiment.
In addition, boost in demand on account of festive and marriage season in the domestic markets also gave a push to rising silver futures prices here, they added. — PTI
