Silver futures rise on global cues
Participants built-up speculative positions, largely driven by a firming trend overseas
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Silver prices went up by Rs 207 to Rs 42,140 per kg in futures trade today after participants built-up speculative positions, largely driven by a firming trend overseas.
At the Multi Commodity Exchange, silver for delivery in September shot up by Rs 207, or 0.49%, to Rs 42,140 per kg in a business turnover of 410 lots.
Similarly, the white metal for delivery in December rose by Rs 191, or 0.45%, to Rs 42,853 per kg in 88 lots.
Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as tension in Ukraine escalated, boosting demand for a safe haven.
Meanwhile, silver advanced 0.30% to $19.52 an ounce in Singapore.
At the Multi Commodity Exchange, silver for delivery in September shot up by Rs 207, or 0.49%, to Rs 42,140 per kg in a business turnover of 410 lots.
Similarly, the white metal for delivery in December rose by Rs 191, or 0.45%, to Rs 42,853 per kg in 88 lots.
Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as tension in Ukraine escalated, boosting demand for a safe haven.
Meanwhile, silver advanced 0.30% to $19.52 an ounce in Singapore.
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First Published: Aug 28 2014 | 11:20 AM IST