Silver up 0.3% on global cues

New Delhi-India (Mar 14)   Silver prices moved up by 0.36% to Rs 46,902 per kg in futures trade today as participants engaged in creating speculative positions, tracking a firming trend in precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in May contracts traded higher by Rs 168, or 0.36%, to Rs 46,902 per kg in business turnover of 287 lots.

On similar lines, the metal for delivery in far-month July traded Rs 153, or 0.32%, higher at Rs 47,771 per kg in a turnover of two lots.

In the international market, silver added 0.4%, to trade at $21.26 an ounce in Singapore.

Market analysts attributed gains in silver prices at futures trade to a firming trend overseas as flaring tension in Ukraine, before a vote in Crimea on breaking away to join Russia, and concern that China's growth is faltering boosted demand for the precious metals as a safe-haven.

Source: Business-Standard