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This is an archive article published on May 17, 2010

Silver futures up on good demand

Silver prices rose by Rs 219 or 0.74 per cent to Rs 29,877 per kg in futures market.

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Silver prices rose by Rs 219 or 0.74 per cent to Rs 29,877 per kg in futures market on pick up in demand at spot markets in view of marriage season.

At the Multi Commodity Exchange counter,silver for July- month contract rose Rs 219,or 0.74 per cent to Rs 29,877 per kg,with an open interest of 16,173 lots.

The metal for delivery in September contract also moved up by Rs 195,or 0.66 per cent to Rs 29,953 per kg,with a business turnover of 1,312 lots.

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Market analysts said,rising demand in the spot market following ongoing marriage season pushed up silver prices at futures trade.

They said rising demand among industrial units,fearing the prices might pick up further,also influenced the trading sentiment.

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