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Silver futures up by Rs 368/kg on firm global cues

by December 29, 2016 General

Silver prices rose by Rs 368 to reach Rs 40,401 per kg in futures trading today as speculators created fresh positions amid firm trend overseas.

At the Multi Commodity Exchange, silver for delivery in May 2017 traded higher by Rs 368, or 0.92 per cent, at Rs 40,401 per kg, in a business turnover of 23 lots.

Likewise, the white metal for delivery in March next year was trading higher by Rs 346, or 0.88 per cent, to Rs 39,766 per kg in 688 lots.

Analysts said building up of positions by speculators in line with a firm trend for precious metals influenced silver prices at futures trade.

Meanwhile, silver was up 1.13 per cent at USD 16.16 an ounce in today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)