Silver futures up Rs 128/kg as speculators create position

Silver prices rose by Rs 128 to Rs 37,333 per kg in futures trade today after speculators built up positions even as the metal weakened overseas.

At the Multi Commodity Exchange, silver for delivery in March rose by Rs 128, or 0.34 per cent, to Rs 37,333 per kg in a business turnover of 576 lots.

The metal for delivery in May was trading up Rs 104, or 0.28 per cent higher at Rs 37,788 per kg in 4 lots.

Analysts said the rise in silver prices at futures trade was mostly attributed to building up of positions by participants.
 

Globally, silver shed 0.09 per cent to USD 16.04 an ounce in Singapore today.