Silver futures up 0.73% on global cues

Speculators cover short positions as metal gains 0.4% in Singapore

Silver prices rose 0.73 per cent to Rs 44,840 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 May traded higher by Rs 323, or 0.73 per cent, to Rs 44,840 per kg in a business turnover of 22 lots.
    
March silver traded higher by Rs 302, or 0.69 per cent, at Rs 43,859 per kg in a turnover of 1,684 lots.
    

In the international market, silver gained 0.40 per cent to trade at $19.56 an ounce in Singapore.

    
Market analysts said besides short-covering by speculators, a rising trend in the precious metals in the global market, influenced silver prices at futures trade here.