Silver futures rise in tandem with global markets

Silver prices rose by Rs 195 to Rs 36,650 per kg in futures trading today as speculators enlarged positions amid a firming trend in precious metals overseas.



At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 195, or 0.53 per cent, at Rs 36,650 per kg in a business turnover of 455 lots.



Likewise, the white metal for delivery in May traded higher by Rs 182, or 0.49 per cent, to Rs 37,015 per kg in 55 lots.



Market analysts said positions enlarged by speculators largely in tandem with a firming trend in the precious metals overseas as Chinese buyers returned from a week-long holiday, supported the upside in silver prices at futures trade.



Meanwhile, silver was up 0.3 per cent at at $16.61 an ounce in Singapore.



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Posted in: Indian Market Tips