Silver futures up by Rs 162 per kg on firm global cues

Silver prices were up by Rs 162 to reach Rs 39,020 per kg in futures trading today as speculators created fresh positions amid firm trend in precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in far-month September traded higher by Rs 162, or 0.42 per cent, at Rs 39,020 per kg in a business turnover of 72 lots.

Likewise, the white metal for delivery in July traded higher by Rs 119, or 0.31 per cent, to Rs 38,483 per kg in 5,126 lots.

Market analysts said fresh positions built by speculators in line with a firm trend global markets for precious metals influenced silver prices at futures trade.
 

Meanwhile, silver was up 0.73 per cent at USD 16.60 an ounce in Singapore today.