Silver futures up on firm global cues
Mumbai-India (Dec 11) Silver price rose Rs 183 to Rs 46,532 per kg in futures trading today as speculators created fresh positions buoyed by a firm global trend.
At the Multi Commodity Exchange, silver for delivery in May 2014 traded Rs 183, or 0.39%, higher at Rs 46,532 per kg in a business turnover of 24 lots.
Likewise, the March delivery traded higher by Rs 149, or 0.33%, to Rs 45,599 per kg in 1,200 lots.
Market analysts said fresh positions built up by speculators driven by a firm global trend as weakened dollar boosted appeal for the precious metals, mainly influenced silver prices at futures trade here.
Meanwhile, silver climbed 3.1% to $20.31 an ounce in New York yesterday.