Silver futures on the Multi Commodity Exchange rose 1.35% on Tuesday to Rs 2,20,664 per kilogram, driven by fresh buying and a firm global trend. Gold advanced alongside it, and Comex silver added 0.86% to USD 58.15 per ounce.
Silver climbed 1.35% to Rs 2.20 lakh per kg in Tuesday's futures trade, lifted by fresh positions and a firm global market. The white metal for July delivery on the Multi Commodity Exchange gained Rs 2,946 to Rs 2,20,664 per kilogram in a business turnover of 1,422 lots.
Analysts tied the move to fresh positions built up by participants. In the overseas market, Comex silver futures rose 0.86% to USD 58.15 per ounce. Traders looking to trade silver watch both the domestic and Comex contracts for direction.
Gold moves higher too
Gold tracked the same path. The August contract on the MCX rose Rs 1,303, or 0.93%, to Rs 1,41,612 per 10 grams, with a turnover of 1,095 lots. Analysts attributed the gain to fresh positions amid firm spot demand.
In New York, gold futures climbed 0.70% to USD 4,030.57 per ounce.
Sources: Rediff MoneyWiz, Deccan Chronicle
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