Silver futures rise on global cues

Silver futures prices rose by Rs 45 to Rs 47,019 per kg today, as speculators enlarged their positions on the back of firming global trend.

At the Multi Commodity Exchange, silver for May contract rose by Rs 45, or 0.10 per cent, to Rs 47,019 per kg, with a trade volume of just one lot. 

Similarly, the metal for delivery in March moved up by Rs 43, or 0.09 per cent, to Rs 46,306 per kg, with a business turnover of three lots.

Market analysts said increased buying by speculators on pick up in demand in the spot market, amid firming global trends mainly led to the rise in silver futures prices.  

Meanwhile, silver traded 0.20 per cent higher than its previous close at $30.74 in Asia.