Silver up 0.5% in futures trade on firm global trend

Mumbai-India (Dec 18)  Silver prices moved up by 0.51% to Rs 44,961 per kg in futures market today as speculators creating fresh positions, driven by a higher global trend.

At the Multi Commodity Exchange, silver for delivery in March rose by Rs 227, or 0.51%, to Rs 44,961 per kg in business turnover of 2,933 lots.

Similarly, silver for delivery in May traded higher by Rs 223, or 0.49%, to Rs 45,900 per kg in 20 lots.

Analysts said fresh positions created by speculators on the back of a firm global trend mainly led to rise in silver prices in futures trade.

Meanwhile, silver gained 0.4% to $19.97 an ounce in Singapore.