Silver regains Rs 41,000 mark on positive global cues

Silver regained Rs 41,000-mark by climbing Rs 325 to Rs 41,084 per kg in futures trading today as participants widened their positions, tracking a firm trend in global market.

At the Multi Commodity Exchange, silver for delivery in far-month July was trading higher by Rs 325, or 0.80%, to Rs 41,084 per kg, in a business turnover of 42 lots.

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Similarly, the white metal for delivery in May was up by Rs 319, or 0.79%, to Rs 40,451 per kg in 681 lots.

Analysts enlarged their positions in tandem with a firming trend in global markets where silver has rallied on signs of industrial demand for the metal and bets that policy makers will be slow to raise US interest rates, mainly influenced the white metal prices at futures trade.

Globally, silver rose 1.77% to $17,24 an ounce in Singapore.