Silver prices witnessed a significant rise in futures trading on Wednesday, with a jump of Rs 431 to reach Rs 85,350 per kilogram. This increase was driven by heightened trading activity as market participants expanded their positions, buoyed by robust spot demand.
At the Multi Commodity Exchange (MCX), silver contracts for September delivery surged by Rs 431 or 0.51 percent to settle at Rs 85,350 per kg in a substantial turnover of 26,508 lots.
Market analysts attributed the uptick in silver prices to fresh buying interest among traders, spurred by a positive domestic market sentiment.
Internationally, silver also saw gains, trading 0.39 percent higher at USD 29.45 per ounce in New York.
The bullish trend in silver futures underscored a growing confidence among traders, reflecting strong demand dynamics both domestically and globally.
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