Today Silver Price Gain On Global Demand

Silver futures rose by 0.22 per cent on Friday afternoon market at the Multi Commodity Exchange (MCX) due to firm global trend coupled with participants trimming their position in the global market.

At the MCX, Silver futures for July 2016 contract is trading at Rs. 41,508 per Kg, up by 0.22 per cent, after opening at Rs. 41,460. It touched the intra-day high of Rs. 41,600.

Silver finds its application in industries (54 per cent), Photography (15 per cent), Jewellery and Silverware (26 per cent) and Coins (5 per cent). Mexico is the largest producer of silver whereas major consumers are USA, India and Canada.

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