New Delhi, Silver prices continued to rise in the domestic futures market on Wednesday and rose by Rs 671 to Rs 1,25,132 per kg on rising tensions in the Middle East and a weak US dollar.
At the Multi Commodity Exchange, futures prices of this white metal for December delivery rose by Rs 671 or 0.54 per cent to Rs 1,25,132 per kg in a business of 17,714 lots.
According to commodity market experts, silver prices continued to rise amid rising tensions in the Middle East region after Israel’s attack on Hamas senior leadership in Doha, Qatar.
“Traders will be focused on US macroeconomic data, including producer price inflation data to be released later and consumer price inflation data to be released on Thursday, which may provide guidelines for the Federal Reserve’s interest rate cycle,” an expert said.
In foreign markets, Comex silver futures were trading 1.02 per cent higher at $41.76 an ounce.
On Tuesday, silver crossed $42 an ounce in global markets for the first time in 14 years. However, it declined after the release of US employment revision data.
