Daijiworld Media Network – New Delhi
New Delhi, Jun 25: Silver prices recovered on Thursday, rising by Rs 175 to Rs 2.13 lakh per kg in futures trade as investors resorted to value buying after recent declines.
On the Multi Commodity Exchange (MCX), silver contracts for July delivery climbed Rs 175, or 0.08 per cent, to Rs 2,13,250 per kilogram. The contract recorded a business turnover of 2,591 lots.
Market analysts said the uptick was driven by bargain hunting after the precious metal came under significant selling pressure in recent sessions, which had pushed prices to multi-month lows.
In the international market, Comex silver futures were trading 0.21 per cent higher at USD 57.53 per ounce, lending support to domestic prices.
Traders said global cues and renewed buying interest at lower levels contributed to the modest recovery in silver futures.