Silver prices in the domestic futures market increased by 0.97 per cent on Friday, tracking firm global trends. Analysts attributed the upward movement to fresh positions built up by market participants.
Silver prices moved upward in the futures trade on Friday, recording a rise of 0.97 per cent amid a firm global market trend. On the Multi Commodity Exchange (MCX), the white metal for September delivery increased by ₹2,369, reaching ₹2,45,612 per kilogram.
The trading session recorded a business turnover of 2,663 lots for the contract. According to market analysts, the price increase was primarily supported by fresh positions built up by participants during the session.
In international markets, silver futures also registered gains, increasing by 1.28 per cent to trade at $68.95 per ounce.
"The recent movement in silver prices on the Multi Commodity Exchange highlights how domestic commodity markets closely mirror global price trends. With silver futures rising alongside overseas markets, participants are actively building fresh positions. For businesses and investors dealing in precious metals, tracking these global cues and domestic turnover metrics is essential for navigating market volatility and managing supply chain costs effectively." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
