Silver futures price climb 0.71 pct on firm global cues

Aug 26 2013, 13:05 IST
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SummarySilver prices jumped Rs 379, or 0.71 per cent, to Rs 53,850 per kg in futures trading today as speculators created positions largely in tandem with a firming overseas trend.

Silver prices jumped Rs 379, or 0.71 per cent, to Rs 53,850 per kg in futures trading today as speculators created positions largely in tandem with a firming overseas trend.

At the Multi Commodity Exchange, silver for delivery in September traded Rs 379, or 0.71 per cent higher at Rs 53,850 per kg in business turnover of 1,195 lots.

Likewise, the white metal for delivery in December traded higher by Rs 389, or 0.71 per cent, to Rs 54,850 per kg in 105 lots.

Market analysts said fresh positions created by speculators largely in tandem with a firming trend overseas, as investors weighed the outlook for stimulus in the US, with a slump in new-home sales boosting the case for sustained debt-buying, influenced silver prices at futures trade.

Meanwhile, in Singapore silver climbed one per cent to USD 24.30 an ounce, the highest price since May 6.

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