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This is an archive article published on March 12, 2013

Silver futures price up on strong global cues

Silver rose by 0.10 per cent to Rs 54,649 per kg in futures market today.

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Silver rose by 0.10 per cent to Rs 54,649 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 May gained Rs 56,or 0.10 per cent,to Rs 54,649 per kg in business turnover of 2,301 lots.

Similarly,the metal for delivery in far-month July up by Rs 56,or 0.09 per cent,to Rs 55,936 per kg in 65 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 0.1 per cent higher at USD 29.00 an ounce in Singapore today.

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