Silver futures climb over 1% on global cues

New Delhi-India (Feb 17)  Silver prices rose by 1.19% to Rs 47,168 per kg in futures trade today on rising trend in precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 555, or 1.19%, to Rs 47,168 per kg in business turnover of 1,346 lots.

Similarly, the white metal for delivery in May also traded higher by Rs 555, or 1.17%, at Rs 48,001 per kg in a turnover of 91 lots.

In the international market, silver bounced 2.20%, to trade at USD 21.97 an ounce, the highest level since November 7 in Singapore.

Market analysts said strong rally in the global market as speculation that a US economic recovery will stall boosted demand for the precious metals, influenced silver prices at futures trade here.

(Source: Business-Standard India)