Silver moves up in futures trade on higher global cues

At the Multi Commodity Exchange,silver for delivery in July rose by Rs 117,or 0.21 per cent to Rs 54,596 per kg in business turnover of 13,349 lots.

Written by Agencies | New Delhi | Published:May 28, 2012 3:43 pm

Supported by a firming global trend,silver traded higher by Rs 0.21 per cent to Rs 54,596

per kg in futures trade on Monday.

At the Multi Commodity Exchange,silver for delivery in July rose by Rs 117,or 0.21 per cent to Rs 54,596 per kg in business turnover of 13,349 lots.

Similarly,the white metal for delivery in the September contract traded higher by Rs 119,or 0.21 per cent,to Rs 55,971 per kg in 588 lots.

Market analysts said besides firming global trend,increased demand in the spot market mainly pushed up silver futures.

Meanwhile,silver adding 0.9 per cent to USD 28.77 an ounce in Singapore.

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