NEW DELHI, Mar 3: Silver prices went up by a whopping Rs 538 to Rs 46,900 per kg in futures trade today after participants built-up speculative positions, largely driven by a firming trend overseas.
At the Multi Commodity Exchange, silver for delivery in March shot up by Rs 538, or 1.16 per cent, to Rs 46,900 per kg in a business turnover of 261 lots.
Similarly, the white metal for delivery in May rose by Rs 548, or 1.16 per cent, to Rs 47,825 per kg in 929 lots.
Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as tension in Ukraine escalated by Russia’s seizure of Crimea boosted demand for a safe haven.
Meanwhile, silver advanced 1.10 per cent to USD 21.46 an ounce in Singapore, after climbing 11 per cent in February, the first monthly gain since October. (AGENCIES)
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