Silver rises 0.5% in futures trade on global cues

Silver futures traded 0.54% higher at Rs 37,392 per kg today as participants created fresh speculative positions positions, tracking overnight gains in global markets.

At the Multi Commodity Exchange, silver for delivery in far-month May month contracts was up by Rs 202, or 0.54%, to Rs 37,392 per kg in business volume of 3 lots.

Also, the white metal for delivery in March traded higher by Rs 276, or 0.48%, to Rs 36,771 per kg in 516 lots.

Analysts said fresh positions created by speculators in tune with overnight gains in bullion in global markets as signs that money supplies will increase in Europe and Asia revived investor demand, influenced silver prices in futures trade.
 
Meanwhile, silver increased 0.55% to $16.38 an ounce in New York in yesterday's trade.