India: Silver futures hit record high of Rs 76,752/kg on global cues

NEW DELHI: Extending its record-breaking rally, silver futures prices went up by a whopping Rs 854 to trade at yet another high of Rs 76,752 per kg, largely on the back of a firming global trend.
Firming trend at the domestic spot markets on the back of festive season demand also influenced silver prices at futures trade here.
At the Multi Commodity Exchange , silver for delivery in December surged by Rs 854, to hit a fresh high of Rs 76,752 per kg, with a trade volume of 235 lots.
Similarly, the metal for delivery in July gained Rs 862 to Rs 74,560 per kg, with a business turnover of 8,598 lots.
Market analysts said continued buying by speculators on the back of a rising global trend, where precious metal zoomed to a fresh 31-year high, buoyed by weak dollar and increasing tension in the Middle East and North Africa, boosting the demand for precious metals.
Meanwhile, silver climbed to USD 48.81 an ounce in the Asian region.

(Source: http://economictimes.indiatimes.com/markets/commodities/silver-futures-hit-record-high-of-rs-76752/kg-on-global-cues/articleshow/8078562.cms)