Silver Prices Surge Amid Increased Futures Bets

Silver prices saw a notable increase of Rs 667 to reach Rs 1,10,678 per kilogram in futures trade on Wednesday. This surge was driven by new positions taken by market participants. In global markets, September contracts for silver also observed a rise, trading at USD 37.17 per ounce in New York.

In a significant development, silver prices escalated by Rs 667 to hit Rs 1,10,678 per kilogram in futures trading on Wednesday. This increase reflects heightened interest from market participants who are expanding their positions.

On the Multi Commodity Exchange, silver contracts for September delivery advanced by Rs 667, marking a 0.6 percent rise, supported by a business turnover of 17,089 lots, according to analysts.

Globally, silver was trending upward as well. The September contract was trading 0.59 percent higher, reaching USD 37.17 per ounce in New York, further indicating a positive outlook for the metal.

(With inputs from agencies.)