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Silver prices jumped by Rs 407 to Rs 37,421 per kg in futures trading today as speculators created fresh positions after it rose in overseas markets.
At the Multi Commodity Exchange, silver for delivery in May rallied by Rs 407, or 1.10%, to Rs 37,421 per kg in a business turnover of 920 lots.
Likewise, the white metal for delivery in March traded higher by Rs 340, or 0.93%, to Rs 37,056 per kg in 387 lots.
Analysts said fresh positions built up by speculators, buoyed by a firm global trend after China announced a second interest rate cut in three months and the US reported a slower pace of economic expansion than estimated, mainly pushed up silver prices in futures trade.
Globally, silver rose 1.1% to $16.77 an ounce in Singapore today.
