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Silver reclaimed Rs 45,000 per kg mark with prices shooting up by Rs 1,232 to Rs 45,581 per kg at the futures trade today as speculators raised their bets, driven by a positive global trend.
At the Multi Commodity Exchange, silver for delivery in far-month September zoomed Rs 1,232 or 2.78 per cent to Rs 45,581 per kg in a business turnover of 1,371 1ots.
On similar lines, the white metal for delivery in July was trading higher by Rs 1,293 or 2.97 per cent at Rs 44,760 per kg in 275 lots.
Analysts said widening of bets by participants after silver rallied to a near two-year high overseas as investors speculate central banks will have to continue supporting the economy in the wake of Britain’s vote to leave the European Union, influenced white metal prices at the futures trade here.
Meanwhile, silver added as much as 1.8 per cent to $19.04 an ounce in Singapore, the highest since September 2014.
Prices are 7.4 per cent higher this week, the biggest gain since January 2015.
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