New Delhi, March 5 Silver prices rose by Rs 1,844 to Rs 2.67 lakh per kilogram in futures trading on Thursday, driven by strong global trends as investors flocked to safe-haven assets amid escalating geopolitical tensions in the Middle East.
On the Multi Commodity Exchange (MCX), the white metal for May delivery rose by Rs 1,844, or 0.69 per cent, to Rs 2,67,404 per kilogram in a trading volume of 6,353 lots.
Analysts said the white metal tracked gains in international markets as concerns over a prolonged conflict involving Iran kept investors cautious, boosting demand for precious metals.
However, gold futures for April delivery fell by Rs 210, or 0.13 per cent, to Rs 1,61,315 per 10 grams in a trading volume of 7,445 lots.
Globally, Comex silver futures for the May contract gained USD 1.07, or 1.29 per cent, to USD 84.25 per ounce, while gold for the April delivery gained USD 29.56, or 0.58 per cent, to USD 5,164.26 per ounce in New York.
"Silver and gold rebounded from recent lows as demand for safe-haven assets returned amid rising geopolitical and trade tensions," said Renisha Chainani, Head - Research at Augmont.
The move comes as the US prepares to introduce a temporary 15 per cent global tariff, replacing the earlier 10 per cent levy after the Supreme Court struck down most of President Trump's previous tariffs, she said.
