Silver futures up 0.63% on global cues

Jul 17 2014, 11:45 IST
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SummaryAt the Multi Commodity Exchange, silver for delivery in far-month December traded higher by Rs 285, or 0.63 per cent, to Rs 45,730 per kg.

Tracking a rising trend in global markets, silver futures prices today rose by 0.63 per cent to Rs 45,730 per kg as speculators built fresh positions amid covering-up of short positions.

At the Multi Commodity Exchange, silver for delivery in far-month December traded higher by Rs 285, or 0.63 per cent, to Rs 45,730 per kg in business turnover of eight lots.

On similar lines, the white metal for delivery in September traded Rs 277, or 0.60 per cent, higher at Rs 44,844 per kg in a turnover of 681 lots.

In the international market, silver traded higher at USD 20.79 an ounce in Singapore from USD 20.76 yesterday.

Market analysts said besides covering up of short positions by speculators, a firming trend in the precious metals in the global market, supported the upside in silver futures here.

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