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Silver futures prices extend gain on increased offtake

Silver futures prices extended gain for the second straight day by adding 0.48 per cent on the Multi Commodity Exchange(MCX) today on increased offtake in the spot markets due to festival season. - Gold futures remains higher on firm global cues - Goldman faces carbon market curbs - Silver prices trade higher on firm global cues - Gold rises on better global cues, festive demand - Gold trades near trough on dollar gain speculation - Gold futures rebounds on festival buying Firming global trend also supported the uptrend.Silver for September month contract went up 0.48 per cent to Rs 24,103 per kg with an open interest of 13,804 lots. It had gained 1.19 percent in yesterday"s trading. Similarly, silver for December month strengthened by 0.38 per cent to Rs 24,182 per kg with an open interest of 1,698 lots. Marketmen said apart from increased demand in the spot markets due to festival season firming global trend mainly helped silver prices to trade with further gains at futures market here. Meanwhile, silver traded higher by 48 cent to 15.05 dollar an ounce in New York last night.

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