Silver futures up 0.63% on global cues
Speculators create fresh positions amid covering-up of short positions
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Tracking a rising trend in global markets, silver futures prices today rose by 0.63% to Rs 45,730 per kg as speculators built fresh positions amid covering-up of short positions.
At the Multi Commodity Exchange, silver for delivery in far-month December traded higher by Rs 285, or 0.63%, to Rs 45,730 per kg in business turnover of eight lots.
The white metal for delivery in September was up by Rs 277, or 0.60%, to Rs 44,844 per kg in a turnover of 681 lots.
In the international market, silver traded higher at $20.79 an ounce in Singapore from $20.76 yesterday.
Market analysts said besides covering up of short positions by speculators, a firming trend in the precious metals in the global market, supported the upside in silver futures here.
At the Multi Commodity Exchange, silver for delivery in far-month December traded higher by Rs 285, or 0.63%, to Rs 45,730 per kg in business turnover of eight lots.
The white metal for delivery in September was up by Rs 277, or 0.60%, to Rs 44,844 per kg in a turnover of 681 lots.
In the international market, silver traded higher at $20.79 an ounce in Singapore from $20.76 yesterday.
Market analysts said besides covering up of short positions by speculators, a firming trend in the precious metals in the global market, supported the upside in silver futures here.
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First Published: Jul 17 2014 | 11:39 AM IST