Silver prices rose by Rs 318 at Rs 38,245 per kg in futures trade Friday as speculators created fresh positions amid firm trend overseas.
At the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 318, or 0.84 per cent, at Rs 38,245 per kg in a business turnover of 20,247 lots.
Likewise, the white metal for delivery in July was trading higher by Rs 317, or 0.82 per cent, at Rs 38,792 per kg in 455 lots.
Analysts said building up of positions by speculators in line with a firm trend in global markets for precious metals mainly influenced silver prices here.
Meanwhile, silver was up 1.78 per cent at USD 15.37 an ounce in Singapore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.