Silver futures up 0.4% on global cues
Metal for delivery in far-month March last year rose by 0.3%
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Silver prices rose by 0.42% to Rs 49,770 per kg in futures trade today largely in tune with a firming trend in precious metals overseas amid covering up of short positions by speculators.
At the Multi Commodity Exchange, silver for delivery in December gained Rs 209, or 0.42%, to Rs 49,770 per kg in a business turnover of 541 lots.
Similarly, the white metal for delivery in far-month March last year rose by Rs 166, or 0.33%, to Rs 51,230 per kg, in a business volume of six lots.
In the international market, silver traded higher at $22.52 an ounce in Singapore.
Market analysts said besides short covering by speculators, a rising trend in the precious metals in the global market after US economic data backed the case for the Federal Reserve to maintain stimulus influenced silver futures here.
At the Multi Commodity Exchange, silver for delivery in December gained Rs 209, or 0.42%, to Rs 49,770 per kg in a business turnover of 541 lots.
Similarly, the white metal for delivery in far-month March last year rose by Rs 166, or 0.33%, to Rs 51,230 per kg, in a business volume of six lots.
In the international market, silver traded higher at $22.52 an ounce in Singapore.
Market analysts said besides short covering by speculators, a rising trend in the precious metals in the global market after US economic data backed the case for the Federal Reserve to maintain stimulus influenced silver futures here.
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First Published: Oct 29 2013 | 12:45 PM IST