Silver futures rise by Rs 325 on global cues
Speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas
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Silver prices rose sharply by Rs 325 to Rs 37,158 per kg in futures trading today as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas.
At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 325, or 0.87%, at Rs 37,158 per kg in a business turnover of 702 lots.
Likewise, the white metal for delivery in May traded higher by Rs 278, or 0.74%, to Rs 37,779 per kg in seven lots.
Market analysts said fresh positions built-up by speculators, tracking a firming trend in the precious metals overseas on speculation that the US Federal Reserve will go slow in raising interest rates, supported the upside in silver prices at futures trade.
Meanwhile, silver was up by 0.30% at $16.55 an ounce in Singapore.
At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 325, or 0.87%, at Rs 37,158 per kg in a business turnover of 702 lots.
Likewise, the white metal for delivery in May traded higher by Rs 278, or 0.74%, to Rs 37,779 per kg in seven lots.
Market analysts said fresh positions built-up by speculators, tracking a firming trend in the precious metals overseas on speculation that the US Federal Reserve will go slow in raising interest rates, supported the upside in silver prices at futures trade.
Meanwhile, silver was up by 0.30% at $16.55 an ounce in Singapore.
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First Published: Jan 12 2015 | 11:35 AM IST