Silver futures up by 0.6% on firm global cues

Silver prices rose by Rs 198 to reach Rs 35,598 per kg in futures trading today as speculators created fresh positions amid firm trend in global markets.

At the Multi Commodity Exchange, silver for delivery in far-month December was trading higher by Rs 198, or 0.56%, at Rs 35,598 per kg in a business turnover of 809 lots.

Likewise, the white metal for delivery in September contracts rallied by Rs 118, or 0.37%, to Rs 34,890 per kg in 2 lots.

Market analysts said speculative positions created by participants in line with a firm trend in global markets as investors waiting for US jobs data to be released later in the day to provide clues on the timing of an interest rate increase, influenced silver prices at futures trade.

Meanwhile, silver was up 0.24% at $14.76 an ounce in Singapore today.