Silver futures rise by 0.6% on overseas cues
Speculators indulged in enlarging positions on the back of firming global trend
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Continued their rising streak for the third straight day, silver prices rose 0.64% to Rs 38,101 per kg in futures trade today as speculators indulged in enlarging positions on the back of firming global trend.
At the Multi Commodity Exchange, silver for delivery in March moved up by Rs 242, or 0.64%, to Rs 38,101 per kg in a business turnover of 1,218 lots.
Similarly, the white metal for delivery in May traded higher by Rs 212, or 0.56%, to Rs 38,350 per kg in 32 lots.
Analysts said enlarging of positions by speculators in tandem with a firming global trend mainly kept silver prices higher at futures trade.
Meanwhile, silver was marginally higher at $17.27 an ounce from $17.26 yesterday in Singapore.
At the Multi Commodity Exchange, silver for delivery in March moved up by Rs 242, or 0.64%, to Rs 38,101 per kg in a business turnover of 1,218 lots.
Similarly, the white metal for delivery in May traded higher by Rs 212, or 0.56%, to Rs 38,350 per kg in 32 lots.
Analysts said enlarging of positions by speculators in tandem with a firming global trend mainly kept silver prices higher at futures trade.
Meanwhile, silver was marginally higher at $17.27 an ounce from $17.26 yesterday in Singapore.
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First Published: Feb 06 2015 | 12:00 PM IST