Silver Up On Firm Overseas Ccues

Silver futures closed higher in the domestic market on Friday tracking a firm trend in global market. Analysts attributed the rise in silver prices at the futures trade to a firm trend overseas as dollar’s safe-haven appeal weakened after the US Federal Reserve reiterated a gradual approach to raising interest rates.

At the MCX, Silver futures for September 2016 contract closed at Rs 47,435, per 1 kg, up by 0.15 per cent after opening at Rs 47,515, against the previous closing price of Rs 47,362. It touched the intra-day high of Rs 48,644.

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Suhani Verma

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