Silver futures gain on Akshaya Tritiya buying

Tracking a firming trend in spot markets on retailers buying for the 'Akshaya Tritiya ' festival, silver prices moved up by 0.34 per cent to Rs 55,741 per kg in futures trading on Tuesday.

At the Multi Commodity Exchange, silver for delivery in May strengthened by Rs 188, or 0.34 per cent, to Rs 55,741 per kg, with a business turnover of 1,780 lots.

Likewise, the metal for delivery in July far-month traded higher by Rs 187, or 0.33 per cent, to Rs 57,375 per kg, with a trade volume of 147 lots.

Market analysts said a firming trend in spot markets following a rise in demand for the precious metals from stockists and jewellers for the auspicious 'Akshaya Tritiya' festival, helped silver futures to trade higher at futures trade.