Silver up by 0.6% on firm global trend

Market analysts said speculators enlarged their positions, tracking a firm global trend, which pushed up silver prices

Amid firm global trend and pick up in domestic demand, silver prices traded higher by 0.69% to Rs 49,736 per kg in futures trade as speculators enlarged their positions.

At the Multi Commodity Exchange, silver for delivery in March rose by Rs 341, or 0.69%, to Rs 49,736 per kg in business turnover of 55 lots.

Similarly, the white metal for delivery in December traded higher by Rs 302, or 0.63%, to Rs 48,428 per kg in 6,291 lots.

Market analysts said speculators enlarged their positions, tracking a firm global trend, which mainly pushed up silver prices at futures trade.
 
Meanwhile, silver rose by 2.19% to USD 21.89 an ounce in New York last night.