Silver futures closed higher in the domestic market on Friday as investors rushed to buy the metal in the wake of the U.K.’s decision to exit from the European Union.
Silver tends to rally in times of economic, market or political uncertainty because precious metals are considered a haven asset.
At the MCX, Silver futures for July 2016 contract closed at Rs 42,430, per 10 gram, up by 3.01 per cent after opening at Rs 41,749, against the previous closing price of Rs 41,190. It touched the intra-day high of Rs 42,990
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