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Silver futures up Rs 250 on positive global cues

Press Trust of India  |  New Delhi 

Silver prices were up by Rs 250 to Rs 43,010 per kg in futures trade today after participants raised their bets amid firming global trends.

At Multi Commodity Exchange, silver for delivery in March next year contracts was up by Rs 250 or 0.58 per cent to Rs 43,010 per kg in a business turnover of 5 lots.

Similarly, the white metal for delivery in December was trading higher by Rs 243 or 0.58 per cent to Rs 42,114 per kg in business volume of 579 lots.

Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metal overseas as dollar weakened on an unexpected fall in US manufacturing index raised demand for the precious metals as a safe-haven.

A lower industry number means the US Fed may have to tread cautiously on the front.

Globally, silver traded 0.66 per cent higher at USD 17.56 an ounce in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 18 2016. 10:57 IST