Silver futures gain on firm global cues

Silver prices rose by Rs 117 to reach Rs 38,075 per kg in futures trading today as speculators created fresh positions amid firm trend in precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in July traded higher by Rs 117, or 0.31 per cent, at Rs 38,075 per kg in a business turnover of 711 lots.

Likewise, the white metal for delivery in September traded higher by Rs 106, or 0.28 per cent, to Rs 38,557 per kg in eight lots.

Market analysts said fresh positions built by speculators in line with a firm trend global markets for precious metals influenced silver prices at futures trade.
 

Meanwhile, silver was up 0.2 per cent at USD 16.58 an ounce in Singapore today, rising for the fourth day in the longest run since March 23.