Silver futures up on global cues

At the MCX,silver for delivery in May rose by Rs 254,or 0.45%,to Rs 56,156 per kg.

Written by Agencies | New Delhi | Published: April 10, 2012 2:25 pm

Tracking a firming trend in global markets,silver moved up by Rs 254 to Rs 56,156 per kg in futures trading today.

At the Multi Commodity Exchange,silver for delivery in May rose by Rs 254,or 0.45 per cent,to Rs 56,156 per kg,with a business turnover of 633 lots.

Likewise,the metal for delivery in July traded higher by Rs 245,or 0.43 per cent,to Rs 57,822 per kg,with a trade volume of 38 lots.

Globally,silver rose 1.3 per cent to USD 31.94 an ounce in early trading in Singapore.

Market analysts said reports of a firming trend overseas after disappointing US jobs data breathed new life into hopes for more monetary stimulus by the Federal Reserve,mainly influenced silver prices at futures trade here.

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