Silver moves up in futures trade on global cues

Silver prices moved up by Rs 750 to Rs 53,166 per kg in futures trade today as speculators enlarged their positions on the back of a firming global trend.

At the Multi Commodity Exchange, silver for delivery in September rose by Rs 750, or 0.47%, to Rs 53,166 per kg, with a business turnover of 2,688 lots.

Likewise, the metal for delivery in July traded higher by Rs 221, or 0.43%, to Rs 52,142 per kg in 4,737 lots.

Market analysts said increased buying by speculators following a rise in global markets mainly helped silver prices to trade higher at futures trade.

Meanwhile, silver traded higher by 0.32% higher at $34.99 an ounce in Asian region.