Commodities
MCX Silver Futures Touch Record High of Rs 2.37 Lakh/kg
Domestic silver futures surged on Tuesday, reaching Rs 2.37 lakh per kilogram in futures trade on the Multi Commodity Exchange (MCX). The rise was driven by fresh positions built up by participants and influenced by global trends.
The September delivery of silver increased by Rs 833, or 0.35%, to Rs 2,37,700 per kilogram in a business turnover of 1,688 lots. Analysts attributed the rise to new buying positions taken by market participants.
Interestingly, while domestic silver prices rose, overseas markets saw a decline. Silver futures decreased 0.45% to USD 61.44 per ounce in the global market.