 "Silver up 0.48% on global cues, short-covering")
Silver prices rose by 0.48% to Rs 43,630 per kg in futures trade today largely in tune with a rising trend in precious metals overseas amid covering-up of pending short positions by speculators.
At the Multi Commodity Exchange, the May contract traded higher by Rs 207, or 0.48%, to Rs 43,630 per kg in business turnover of 1,072 lots.
The July contract traded Rs 212, or 0.48%, higher at Rs 44,390 per kg in a turnover of 103 lots.
Market analysts said besides short-covering by speculators, a recovery in the global market as some investors have created short positions in the past few days, influenced silver prices at futures trade here.
At the Multi Commodity Exchange, the May contract traded higher by Rs 207, or 0.48%, to Rs 43,630 per kg in business turnover of 1,072 lots.
The July contract traded Rs 212, or 0.48%, higher at Rs 44,390 per kg in a turnover of 103 lots.
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In the international market, silver bounced 1.10%, to trade at $23.50 an ounce in Singapore after three sessions of losses.
Market analysts said besides short-covering by speculators, a recovery in the global market as some investors have created short positions in the past few days, influenced silver prices at futures trade here.