Silver moves up in futures trade on global cues

Silver prices went up by 0.60% to Rs 63,280 per kg in futures trade today as speculators enlarged their positions, taking positive cues from overseas.

At the Multi Commodity Exchange, the May contract is up by Rs 380, or 0.60%, to Rs 63,280 per kg in business turnover of 56 lots.

The March contract traded higher by Rs 355, or 0.58%, to Rs 61,863 per kg in 2,722 lots.

Analysts said speculative positions created by participants, driven by a firming trend in the global markets, have mainly pushed up silver futures.

Meanwhile, silver rose 0.30% to $32.63 an ounce in Singapore.