Silver futures up by Rs 123/kg on firm global cues

Silver prices rose by Rs 123 to reach Rs 40,387 per kg in futures trading today as speculators created fresh positions amid firm trend overseas.

At the Multi Commodity Exchange, silver for delivery in March 2018 traded higher by Rs 123, or 0.31 per cent, at Rs 40,387 per kg, in a business turnover of 2 lots.

Likewise, the white metal for delivery in December contracts was trading higher by Rs 121, or 0.31 per cent, to Rs 39,715 per kg in 286 lots.

Analysts said building up of positions by speculators in line with a firm trend global markets for precious metals influenced silver prices at futures trade.
 

Meanwhile, silver was up 0.56 per cent at USD 17 an ounce in Singapore today.