SILVER FUTURES UP ON SPOT DEMAND FOR AKSHAYA TRITIYA
DATE: 24/04/2012
Tracking a firming trend in spot markets on retailers buying for the `Akshaya Tritiya` festival, silver prices moved up by 0.34% to Rs 55,741 a kg in futures trading on Tuesday.
At the Multi Commodity Exchange, silver for delivery in May strengthened by Rs 188, or 0.34%, to Rs 55,741 a kg, with a business turnover of 1,780 lots.
Likewise, the metal for delivery in July far month traded higher by Rs 187, or 0.33%, to Rs 57,375 a kg, with a trade volume of 147 lots.
Market analysts said a firming trend in spot markets following a rise in demand for the precious metals from stockists and jewellers for the auspicious `Akshaya Tritiya` festival, helped silver futures to trade higher at futures trade.
Meanwhile, silver ready traded Rs 75 higher at Rs 56,575 a kg in the national capital in yesterday`s trade.
POWERED BY: MYIRIS NEWS
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