Silver again tops Rs 42,000 mark on positive global cues

Silver reclaimed Rs 42,000-mark by climbing Rs 516 to Rs 42,300 per kg in futures trading today as participants widened their positions, tracking a firm trend in global market.
At the Multi Commodity Exchange, silver for delivery in far-month July was trading higher by Rs 516, or 1.23 per cent, to Rs 42,300 per kg, in a business turnover of 3,367 lots.
Similarly, the white metal for delivery in May was up by Rs 450, or 1.10 per cent, to Rs 41,494 per kg in 6,106 lots.
Analysts enlarged their positions in step with a firming trend in global markets where silver rallied after the dollar tumbled to a 10-month low, boosting the appeal of safe-haven investments, mainly influenced the white metal prices at futures trade.

Globally, silver climbed as much as 1.7 per cent to USD 17.84 an ounce in Singapore, the highest since January 2015.