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Silver futures rise on spot demand

On the Multi Commodity Exchange, silver contracts for September delivery gained Rs 1,596 or 2.91 per cent to Rs 56,440 per kg in 19,151 lots.

July 28, 2022 / 02:51 PM IST
In the futures market, silver for July delivery touched an intraday high of Rs 71,570 and a low of Rs 71,257 per kg on the MCX.

In the futures market, silver for July delivery touched an intraday high of Rs 71,570 and a low of Rs 71,257 per kg on the MCX.

Silver prices on Thursday increased by Rs 1,596 to Rs 56,440 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for September delivery gained Rs 1,596 or 2.91 per cent to Rs 56,440 per kg in 19,151 lots.

Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend.

Globally, silver was trading 4.38 per cent higher at USD 19.42 per ounce in New York.
PTI
first published: Jul 28, 2022 02:51 pm
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