Silver futures were trading higher during the afternoon trade in the domestic market on Friday as investors and speculators widened their bets in the precious metal amid weaker US dollar and a firming trend in precious metals overseas.
Further, building up of fresh bets by participants in the spot markets was mainly in-line with a firm trend in precious metals overseas, supported silver prices at futures trade in domestic market. Weaker greenback makes silver cheaper for those holding other currencies, thus rising demand.
At the MCX, silver futures for September 2016 contract is trading at Rs 44,460 per kg, up by 0.37 per cent, after opening at Rs 44,528, against a previous close of Rs 44,298. It touched the intra-day high of Rs 44,549
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