Silver moves up in futures trade on spot demand, global cues

NEW DELHI: Silver prices moved up by Rs 1,413 to Rs 51,823 per kg in the futures trade today on pick up in demand in the spot market following ongoing ' Navratra' festival amid a firm global trend.

At the Multi Commodity Exchange, silver for delivery in December month rose by Rs 1,413, or 2.80 per cent to Rs 51,823 per kg in a business turnover of 11,410 lots.

Similarly, the metal for delivery in December March contract traded higher by Rs 1,341, or 2.59 per cent to Rs 53,150 per kg in 234 lots.

Market analysts attributed the rise in silver futures to firming global trend and pick up in demand in the spot market due to ongoing 'Navratra' festival.

Meanwhile, silver gained 2.9 per cent to USD 30.73 an ounce in Singapore.