Silver futures rebound on bargain buying

Silver prices went up by 0.54% to Rs 57,657 per kg in futures trade today as speculators enlarged their positions on prevailing levels after yesterday's steep fall.

At the Multi Commodity Exchange, the May contract was up by Rs 316, or 0.54%, to Rs 58,976 per kg in business turnover of 152 lots.

The May contract traded higher by Rs 306, or 0.53%, to Rs 57,657 per kg in 3,371 lots.

Analysts said speculative positions created by participants at prevailing attractive levels after yesterday's steep fall, mainly attributed recovery in silver prices at futures trade but a weak trend overseas, limited the gains.

 

Globally, silver fell as much as 1.1% to $29.64 an ounce, the lowest level since August 22 in Singapore.