Silver futures climb Rs 286 on firm global cues

Tracking a firming trend overseas, silver prices soared by Rs 286 to Rs 40,698 per kg in futures trade today as speculators widened their bets.

In futures trading at the Multi Commodity Exchange, silver for delivery in July shot up by Rs 286 or 0.71 per cent to Rs 40,698 per kg in a business turnover of 253 lots.

The white metal for delivery in far-month September was trading higher by Rs 278 or 0.68 per cent to Rs 41,346 per kg in 44 lots.

Market analysts said speculative position created by participants, driven by firm global trend, mainly influenced silver futures prices here.

 

Meanwhile, silver rose 0.60 per cent to USD 16.87 an ounce in Singapore.