Silver up 0.3% on global cues

Mumbai-India (Dec 18)  Silver futures traded 0.27% higher at Rs 36,829 per kg today as participants created fresh speculative positions positions amid gains in global markets.

 At the Multi Commodity Exchange, silver for delivery in March next year was up by Rs 98, or 0.27%, to Rs 36,829 per kg in a business volume of 538 lots.

 Also, the white metal for delivery in far-month May traded higher by Rs 36, or 0.10%, to Rs 37,428 per kg in one lot.

 Analysts said fresh positions created by speculators in tune with gains in bullion in global markets as investors assessed a decision by US policy makers to drop a pledge to keep borrowing costs low for a considerable time, mainly influenced silver prices in futures trade here.

 Meanwhile, silver increased 0.8% to USD 15.87 an ounce in Singapore today.

Source: BusinessStandard