Silver Prices Surge as Participant Bets Increase
Silver prices jumped Rs 7,667 to Rs 2,36,450 per kg on futures trade due to increased participant bets. The Multi Commodity Exchange reported a 3.35% rise for March delivery amidst active contract turnover. Globally, New York recorded a 3.14% increase to USD 75.83 per ounce.
- Country:
- India
On Wednesday, silver prices soared by Rs 7,667, reaching Rs 2,36,450 per kilogram in futures trading, reflecting increased betting activities by participants.
The Multi Commodity Exchange registered a 3.35% hike for March delivery, amid a substantial business turnover of 3,503 lots.
Analysts attributed the surge to fresh positions being built. Meanwhile, global markets witnessed a 3.14% rise in silver prices, trading at USD 75.83 per ounce in New York.
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