Silver up 0.7% on global cues

MUMBAI-INDIA (Oct 7)  Silver futures prices today rose by 0.75%, to Rs 49,714 per kg, largely in tandem with a firming trend in precious metals in the global markets.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 368, or 0.75%, to Rs 49,714 per kg in a business turnover of five lots.

Similarly, the white metal for delivery in December traded Rs 352, or 0.70%, higher at Rs 48,549 per kg in a turnover of 551 lots.

In the international market, silver traded a shade higher at $21.74 an ounce in Singapore.

Analysts said a firming trend in precious metals in the global market as a partial government shutdown which entered a seventh day, spurred speculation that the political impasse may prompt the Federal Reserve to extend stimulus, influenced silver prices at futures trade here.