Silver futures regain Rs 47,000 per kg level after 4 months

Aug 13 2013, 12:10 IST
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SummaryTracking a firming trend overseas, silver prices rose by 0.41 per cent to trade at nearly four-month high of Rs 47,024 per kg in futures trade today as speculators created huge positions.

Tracking a firming trend overseas, silver prices rose by 0.41 per cent to trade at nearly four-month high of Rs 47,024 per kg in futures trade today as speculators created huge positions.

At the Multi Commodity Exchange, silver prices for delivery in far-month December contracts rose by Rs 190, or 0.41 per cent, to Rs 47,024 per kg, a level last seen in April, in business turnover of 98 lots.

Similarly, the white metal prices for delivery in September traded Rs 172, or 0.38 per cent, higher at Rs 46,033 per kg in a turnover of 1,748 lots.

Market analysts said besides short-covering by speculators, gains in the precious metals in the overseas markets and domestic spot markets, attributed rise in silver prices at futures trade here.

Globally, silver gained as much as much 4.23 per cent to USD 21.43 an ounce in New York in yesterday's trade.

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