Silver Futures Surge as Geopolitical Tensions Drive Price to ₹2.35 Lakh Per Kg
The price of silver has surged in futures markets, rising 0.92 per cent and reaching ₹2,35,320 per kilogram on the Multi Commodity Exchange (MCX). The sharp rally is attributed primarily to heightened geopolitical tensions originating from the West Asia crisis, driving increased demand across both domestic and international trading platforms.Precious Metal Rally Driven by West Asia Crisis
The white metal experienced a significant upward movement in futures trade on Monday. On the MCX, silver closed at ₹2,35,320 per kilogram, marking an increase of ₹2,135 or 0.92 per cent. This gain occurred amid business turnover totaling 1,184 lots.Analysts noted that fresh positions built up by participants were a key factor contributing to this sustained rise in silver prices. The increased activity and buying interest solidified the upward trend for the commodity.
Global Futures Markets See Price Rally
In overseas markets, the rally mirrored the domestic trends. Comex silver futures also showed robust gains during the session. The international contract increased by 0.99 per cent.The global benchmark traded at USD 65.54 per ounce, indicating strong momentum in the precious metal across major commodity exchanges. This rise confirms the heightened importance and volatility associated with both regional instability and active trading.
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