Silver futures rise by 0.3% on short-covering
Participants covered-up their short positions at prevailing levels even as the metal remained weak overseas
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Silver futures rose by 0.3% to Rs 34,800 per kg today after participants covered-up their short positions at prevailing levels even as the metal remained weak overseas.
At the Multi Commodity Exchange, silver for delivery in December was up by Rs 105, or 0.30%, to Rs 34,800 per kg in a business turnover of 644 lots.
Similarly, the white metal for delivery in March 2015 traded higher by Rs 96, or 0.27%, at Rs 35,480 per kg in a turnover of 32 lots.
In the international market, silver declined by 0.30% to $15.64 an ounce in Singapore.
Analysts said the rise in silver prices was mostly due to covering-up of short positions by speculators but a weak trend in global markets, limited the gains.
At the Multi Commodity Exchange, silver for delivery in December was up by Rs 105, or 0.30%, to Rs 34,800 per kg in a business turnover of 644 lots.
Similarly, the white metal for delivery in March 2015 traded higher by Rs 96, or 0.27%, at Rs 35,480 per kg in a turnover of 32 lots.
In the international market, silver declined by 0.30% to $15.64 an ounce in Singapore.
Analysts said the rise in silver prices was mostly due to covering-up of short positions by speculators but a weak trend in global markets, limited the gains.
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First Published: Nov 13 2014 | 12:00 PM IST