Buoyed by a firming trend overseas and strong demand in the domestic market, silver continued on its winning streak at the futures trade today, with the prices rising by another 0.37 per cent to Rs 59,944 per kg.
At the Multi Commodity Exchange, silver for delivery in far-month March gained Rs 246 or 0.37 per cent to Rs 59,944 per kg with a trading volume of 107 lots. Likewise, December contract gained Rs 243 or 0.34 per cent to Rs 58,338 per kg in 2,363 lots.
Market analysts said the continued rise in silver prices at the futures trade here was due to a firming trend overseas as concerns about Europe’s debt woes spurred the demand for a protection of wealth, amid strong demand in the domestic bullion market for the ongoing marriage season.
Silver prices shot up 0.43 per cent to $35.16 an ounce in the Asian region.