Silver futures rise on global cues

Written by Press Trust of India | New Delhi | Updated: Aug 28 2014, 17:30pm hrs
Silver prices went up by Rs 207 to Rs 42,140 per kg in futures trade today after participants built-up speculative positions, largely driven by a firming trend overseas.

At the Multi Commodity Exchange, silver for delivery in September shot up by Rs 207, or 0.49 per cent, to Rs 42,140 per kg in a business turnover of 410 lots.

Similarly, the white metal for delivery in December rose by Rs 191, or 0.45 per cent, to Rs 42,853 per kg in 88 lots.

Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as tension in Ukraine escalated, boosting demand for a safe haven.

Meanwhile, silver advanced 0.30 per cent to USD 19.52 an ounce in Singapore.