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Silver at new high in futures on global cues

business Updated: Sep 17, 2010 15:44 IST

PTI
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Maintaining its record making spree, silver added Rs 126, or 0.39 per cent, to set a fresh peak at Rs 32,640 per kg in futures trade on Friday, as speculators continued to enlarge their positions on rising demand in spot markets amid firming global trend.

At the Multi Commodity Exchange counter, silver for May delivery rose Rs 126, or 0.39 per cent, to Rs 32,640 per kg, a level never seen ever before. The contract clocked a business volume of 200 lots.

Similarly, the metal for delivery in December also moved up by Rs 108, or 0.33 per cent, to Rs 32,452 per kg, with an open interest of 40,322 lots.

Market analysts said speculators continued to enlarge their positions on hopes of pick up in demand during coming festival and marriage season, and led to a rise in silver prices.

Meanwhile, silver rose by 0.77 per cent to $ 20.96 an ounce in Asian region.