Silver futures recover 0.3% on global cues; short-covering
Silver for delivery in July traded 0.23%
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Tracking a recovery in precious metals in global markets, silver futures prices today rose by 0.33% to Rs 40,115 per kg as speculators built up fresh positions amid covering-up of short positions.
At the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 130, or 0.33%, to Rs 40,015 per kg in business turnover of 572 lots.
On the similar lines, silver for delivery in July traded Rs 92, or 0.23%, higher at Rs 39,568 per kg in a turnover of 2,193 lots.
In the international market, silver gained 2.20%, to trade at $18.93 an ounce in Singapore.
Market analysts said besides short-covering by speculators, a recovery trend in the precious metals in the global market after yesterday's steep fall, influenced silver prices at futures trade here.
At the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 130, or 0.33%, to Rs 40,015 per kg in business turnover of 572 lots.
On the similar lines, silver for delivery in July traded Rs 92, or 0.23%, higher at Rs 39,568 per kg in a turnover of 2,193 lots.
In the international market, silver gained 2.20%, to trade at $18.93 an ounce in Singapore.
Market analysts said besides short-covering by speculators, a recovery trend in the precious metals in the global market after yesterday's steep fall, influenced silver prices at futures trade here.
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First Published: Jun 27 2013 | 11:40 AM IST