Silver Surges by Rs 639 per kg in Futures Trade on Global Cues

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    New Delhi, Feb 25 (PTI) Silver prices climbed Rs 639 to Rs 36,613 per kg in futures trading today as participants built up fresh positions supported by a firm global trend.

    Besides, covering-up of short positions by speculators also supported the upside. At the Multi Commodity Exchange, silver for delivery in March gained by Rs 639, or 1.78 per cent to Rs 36,613 per kg in business turnover of 2,711 lots.

    Silver Surges by Rs 639 per kg in Futures Trade on Global Cues

    Likewise, the white metal for delivery in far-month May contracts traded higher by Rs 544, or 1.49 per cent to Rs 39,968 per kg in 458 lots.

    Market analysts said fresh positions built up by speculators buoyed by a firm global trend after the US Federal Reserve hinted imminent rate rise was unlikely, influenced precious metal prices at futures trade.

    Meanwhile, silver climbed 2.3 per cent to USD 16.67 an ounce in Singapore. 

    PTI

    Read more about: silver mcx futures
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