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Wednesday, November 3, 2010

Silver Futures Up On Global Cues

Aluminium, Copper, Crude, Gold, Lead, Natural Gas, Nickel, Silver, Zinc - These are involved in our life to that extent, we can't even dream to live without them.

Silver futures prices rose by Rs 82 to Rs 37,600 per kg today on pick up in demand in the spot market in view of festive season amid rising trend in global markets.

Trading sentiment remained firm, as silver prices rose to a 30-year high in overseas market.


At the Multi Commodity Exchange counter, silver for May contract rose by Rs 82, or 0.22 per cent to Rs 37,600 per kg, with a trade volume of just one lot.

Similarly, the metal for delivery in December moved up by Rs 52, or 0.14 per cent to Rs 37,003 per kg, with a business turnover of two lots.

Marketmen said pick up in demand in the spot market in view of festive season amid a firm trend in overseas markets pushed up silver futures prices.

Meanwhile, silver advanced 0.7 per cent to USD 24.84 an ounce after rising to more than USD 25 for the first time since 1980 yesterday.

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