Silver Rebounds to Rs 2.26 Lakh/Kg After Early Drop As Global Prices Recover

New Delhi: Silver futures reversed early losses to climb nearly 2 per cent higher at Rs 2.26 lakh per kilogram on Tuesday amid firm trends in the international markets.

The white metal for September delivery climbed by Rs 3,693, or nearly 2 per cent, to Rs 2,26,327 per kilogram after opening lower on the Multi Commodity Exchange.

Analysts said the recovery in the precious metal was in line with firm trends in the global markets.

Globally, Comex silver futures for September contract increased by 1.28 per cent at USD 59.38 per ounce in New York.

According to analysts, the rebound in silver comes after the metal posted steep losses in recent sessions as expectations of tight monetary policy by the US Federal Reserve and a strong dollar weighed on bullion, prompting value buying by investors at lower levels.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)