Silver futures prices up on firm global cues

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Silver rose 0.18 per cent to USD 21.83 an ounce in Singapore today. (Reuters) Silver rose 0.18 per cent to USD 21.83 an ounce in Singapore today. (Reuters)
SummaryFresh positions built up by speculators after weakening dollar mainly pushed up silver prices at futures trade.

Silver prices rose sharply by Rs 339 to Rs 43,885 per kg in futures trading today, taking positive cues from the global markets, as speculators enlarged positions.

At the Multi Commodity Exchange, silver for delivery in July month contracts climbed Rs 339, or 0.78 per cent to Rs 43,885 per kg in business turnover of 10,377 lots.

Likewise, the white metal for delivery in September contracts traded higher by Rs 305, or 0.69 per cent to Rs 44,472 per kg in 303 lots.

Analysts said fresh positions built up by speculators buoyed by a firm global trend after weakening dollar increased demand for the precious metal as an alternative investment, mainly pushed up silver prices at futures trade.

Meanwhile, silver rose 0.18 per cent to USD 21.83 an ounce in Singapore today.

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