Silver futures gain 0.26% on overseas trend

Taking positive cues from overseas markets, silver prices moved up by 0.26 per cent to Rs 38,730 per kg in futures trade today as participants raised their bets.

At the Multi Commodity Exchange, silver for delivery in May rose by Rs 99, or 0.26 per cent, to Rs 38,730 per kg in business turnover of 218 lots.

Likewise, the white metal for delivery in July contracts was trading higher by Rs 58, or 0.15 per cent, to Rs 39,190 per kg in 4 lots.

Traders attributed the rise in silver prices at futures trade to a firm trend overseas.

Globally, silver rose 0.21 per cent to USD 16.45 an ounce in Singapore today.