Silver moves up by Rs 162/kg in futures trade

Silver prices were up by Rs 162 at Rs 40,020 per kg in futures trading today as speculators indulged in creating fresh positions, even as the metal weakened overseas.

At the Multi Commodity Exchange, silver for delivery in May was trading higher by Rs 162, or 0.41 per cent, at Rs 40,020 per kg in a business turnover of 607 lots.

Likewise, the white metal for delivery in July rose by Rs 136, or 0.34 per cent, to Rs 40,481 per kg in 143 lots.

Market analysts said speculative positions built-up by participants at prevailing levels, mainly influenced influenced silver futures.
 

Meanwhile, silver was down 0.51 per cent at USD 17.48 an ounce in New York yesterday.