Silver futures up on global cues

Posted By: Staff
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Taking positive cues from overseas market, silver prices edged higher by 1.34 per cent to Rs 37,570 per kg in futures trade today after speculators enlarged their positions.

Silver futures up on global cues
At the Multi Commodity Exchange, silver for delivery in far-month May contracts was up by Rs 498, or 1.34 per cent, to Rs 37,570 per kg in business turnover of six lots.

Similarly, the white metal for delivery in March month contracts traded higher by Rs 365, or 1.28 per cent, to Rs 36,910 per kg in 976 lots. Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas due to prevailing lower levels encouraging purchases. Meanwhile, silver rebounded as much as 1.5 per cent, its biggest intra-day gain since December 18, to trade at USD 15.95 an ounce in Singapore. PTI

Read more about: gold, silver
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