Silver Futures Soar on Global Market Strength

Silver futures have been rising on positive cues, reaching new heights in the futures trade. In India, silver prices rose by 0.97 per cent to Rs 2.45 lakh per kg for September delivery. The increase in price was due to a firm global trend, with overseas market showing an even greater rise of 1.28 per cent to $68.95 per ounce.

This surge can be attributed to fresh positions being built up by participants, leading to a rise in silver prices. Analysts have pointed out that this increase is largely driven by the global trend, with no specific factors contributing to it within the Indian market.