Silver futures trade steady at Rs 61,975 per kg

Silver futures trade steady at Rs 61,975 per kg

Silver prices trade steady at Rs 61,975 per kg on October 6 as participants increased their long positions. The precious metal gained 2.21 percent on the COMEX on October 5.

Prices jumped tracking strength in base metals prices. The expectation of a stimulus package for the US economy and recovery of US President Donald Trump from coronavirus gave a boost to the major commodities like base metals and crude oil.

Silver holdings in iShares ETF rose by 14.47 tonne to 17,466.66 tonnes.

MCX Comdex Bullion Index increased 43.96 points, or 0.28 percent, to 15,576.87 at 15:01 hours. The index tracks the real-time performance of MCX Gold and MCX Silver futures.