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This is an archive article published on March 5, 2013

Silver futures prices up on strong global cues

Silver rose by over 1 per cent to Rs 54,434 per kg in futures market today.

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Silver rose by over 1 per cent to Rs 54,434 per kg in futures market today,largely in tune with a firming trend in the global markets.

At the Multi Commodity Exchange,silver for delivery in March shot up by Rs 633,or 1.1 per cent,to Rs 54,434 per kg in business turnover of 9 lots.

Similarly,the metal for delivery in the May gained Rs 42,or 0.08 per cent,to Rs 54,862 per kg in 1,327 lots.

Market analysts said the rise in silver prices at futures trade was mostly attributed to fresh positions built-up by speculators,driven by a firming trend overseas. Globally,silver traded 0.6 per cent higher at USD 28.74 an ounce in Singapore today.

 

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