Silver remains firm in futures trade on global cues

NEW DELHI: Buoyed by a firming trend overseas on speculation that Europe's debt crisis will worsen, silver continued its winning streak in the futures trade with prices rising by another 0.30 per cent to Rs 67,904 per kg today.

In addition, pick-up in demand at the domestic markets on the back of marriage season also supported the upside in silver prices at futures trade.

At the Multi Commodity Exchange, silver for delivery in far-month March gained Rs 200, or 0.30 per cent, to Rs 67,904 per kg, with a trade turnover of 24 lots.

Silver for delivery in December traded Rs 261, or 0.29 per cent, higher at Rs 66,655 per kg, clocking a turnover of 910 lots.

Market analysts said continued rise in silver prices at futures trade is due to a firming trend overseas as concern about slowing economic growth and Europe's debt woes spurred demand for a protection of wealth.

Meanwhile, silver shot up by 0.5 per cent to USD 43.13 an ounce in Asian region.