Silver up by 0.3% in futures trade

New Delhi-India (Mar 3)  Silver prices recovered by 0.27% to Rs 36,960 per kg in futures trading today as speculators enlarged positions even as the metal weakened overseas on strengthening dollar.

 At the Multi Commodity Exchange, silver for delivery in May rose by Rs 98, or 0.27%, to Rs 36,960 per kg in business turnover of 333 lots.

 Likewise, the white metal for delivery in far-month July traded higher by Rs 76, or 0.20%, to Rs 37,560 per kg in 22 lots.

 Analysts said fresh positions built up by speculators at prevailing levels helped silver futures to trade higher but weakness in the precious metals in global market as strengthening dollar curbed demand, capped the gains here.

 Meanwhile, silver was 1% lower at $16.23 an ounce in Singapore.

Source: BusinessStandard