Silver futures advance on global cues

Silver futures on Wednesday traded higher by Re 1 to Rs 44,506 per kg after speculators raised bets, driven by a firm trend overseas.

Silver contracts for March delivery rose by Re 1 to Rs 44,506 per kg in a business turnover of 1,924 lots on the Multi Commodity Exchange.

Besides, the white metal to be delivered in May edged up by Rs 2 to Rs 44,960 per kg in 7 lots.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

In the international market, silver traded 0.05 per cent higher at USD 17.08 an ounce in New York.