Silver prices experienced a notable rise on Thursday, increasing by Rs 1,037 to Rs 2,45,305 per kg on firm global trends.
The Multi Commodity Exchange saw March delivery silver contracts rise by 0.42% in a turnover of 1,589 lots, driven by new positions from market participants.
Globally, silver’s value surged by 1.46%, reaching USD 78.32 per ounce in New York. Jigar Trivedi, a Senior Research Analyst at Indusind Securities, noted that silver’s recent gains followed a broader metals market rebound amidst the strong US dollar and Federal Reserve policy influences.
Additionally, rising geopolitical tensions, particularly in the Middle East and Eastern Europe, boosted the demand for precious metals.
