Silver futures gain 0.54% aided by firm global cues

Silver prices moved up by 0.54 per cent to Rs 39,600 per kg in futures trade today as traders built up fresh positions, driven by a firm trend overseas.

At the Multi Commodity Exchange, silver for delivery in September rose by Rs 212, or 0.54 per cent, to Rs 39,600 per kg, in a business turnover of four lots.

Similarly, the white metal for delivery in July gained Rs 205, or 0.53 per cent, to Rs 38,976 per kg in 495 lots.

Market analysts said fresh positions created by participants on the back of better trend in global markets mainly led to the rise in silver prices at futures trade.
 

Meanwhile, silver rose 0.42 per cent to USD 16.88 an ounce in Singapore.