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Silver futures hit record Rs 60,160/kg

Silver futures hit record Rs 60,160/kg

Silver futures prices climbed to trade at record high of Rs 60,160 per kg on Thursday after the white metal galloped to 31-year high in the global markets.

Silver futures prices climbed to trade at record high of Rs 60,160 per kg on Thursday after the white metal galloped to 31-year high in the global markets.

At the Multi Commodity Exchange, silver for delivery in December rose Rs 60, or 0.10 per cent, to Rs 60,160 per kg, with a business turnover of just one lot.

Similarly, the white metal for delivery in May rose Rs 22, or 0.04 per cent, to Rs 57,730 per kg, with a business turnover of three lots.

Market analysts said continued buying by speculators on the back of a firming global trend, after demand for the precious metals strengthened as investors sought a shelter to protect their wealth against the conflict in Libya and European sovereign debt concerns.

Meanwhile, silver gained 1.3 per cent to $39.77 an ounce in New York, the highest level since January 1980.

Published on: Apr 07, 2011, 1:44 PM IST
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