Silver climbs 1.11% in futures trade on firm Asian cues

Tracking a trend in the Asian region, silver prices shot up by 1.11% to Rs 52,620 per kg in futures trade today on fresh buying by speculators.

Tracking a trend in the Asian region, silver prices shot up by 1.11% to Rs 52,620 per kg in futures trade on Tuesday on fresh buying by speculators.

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At the Multi Commodity Exchange, silver for delivery in December rose by Rs 576, or 1.11%, to Rs 52,620 per kg, with a business turnover of 8,334 lots.

Likewise, the metal for delivery in March jumped up by Rs 587, or 1.10%, to Rs 54,007 per kg, with an open interest of 121 lots.

The metal for delivery in October also moved up by Rs 188, or 0.71%, to Rs 26,744 per 10 grams, with an open interest of 56 lots.

Market analysts said besides a firming trend in Asian region, fresh buying by traders on pick-up in spot demand, mainly pushed up silver prices at futures trade.

Meanwhile, silver rose by 2.5% to $31.17 an ounce in Singapore.