Silver Futures Soar to Four-Week High on Global Market Gains

Silver futures have surged to a four-week high on the Multi Commodity Exchange (MCX) due to gains in global markets and optimism over easing inflation pressures.

The September contract of silver futures jumped by Rs 4,545, or 2.05 per cent, to Rs 2,26,160 per kg.

This is the highest price for silver on MCX since July 9, when it was trading at Rs 2,26,377 per kilogram.

According to Renisha Chainani, Chief Research Officer (CRO) at Augmont, silver prices are trading higher as investors weigh reports of a possible deal to reopen the Strait of Hormuz.