Silver futures move up on global cues
Traders created fresh positions as worsening geopolitical tensions raise demand for a safe-haven
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Silver prices moved up by 0.70 per cent to Rs 44,120 per kg in futures trade today as speculators created fresh positions amid higher global trend.
At the Multi Commodity Exchange, silver for delivery in September gained Rs 304, or 0.70 per cent, to Rs 44,120 per kg in a business turnover of 373 lots.
December silver moved up by Rs 307, or 0.69 per cent, to Rs 44,954 per kg in nine lots.
Analysts said speculators created fresh positions in tandem with higher global trend as worsening geopolitical tensions raised demand for a safe-haven, pushing silver prices higher at futures trade.
Meanwhile, silver rose 0.33 per cent to $20.01 an ounce in Singapore.
At the Multi Commodity Exchange, silver for delivery in September gained Rs 304, or 0.70 per cent, to Rs 44,120 per kg in a business turnover of 373 lots.
December silver moved up by Rs 307, or 0.69 per cent, to Rs 44,954 per kg in nine lots.
Analysts said speculators created fresh positions in tandem with higher global trend as worsening geopolitical tensions raised demand for a safe-haven, pushing silver prices higher at futures trade.
Meanwhile, silver rose 0.33 per cent to $20.01 an ounce in Singapore.
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First Published: Aug 08 2014 | 11:10 AM IST