Silver futures up 0.47% on global cues

Silver futures traded 0.47 per cent higher to Rs 40,365 per kg Thursday after speculators raised bets, driven by a firm trend overseas.

Silver for delivery in September contracts rose by Rs 189, or 0.47 per cent, to Rs 40,365 per kg in a business turnover of 18,699 lots on the Multi Commodity Exchange.

Besides, the white metal to be delivered in far-month December contracts shot up by Rs 81, or 0.2 per cent, to Rs 40,995 per kg in 962 lots.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

 

In the international market, silver traded 0.53 per cent higher at USD 16.06 an ounce in New York.