Silver futures jump to Rs 40,222 per kg

New Delhi-INDIA  (July 3) Silver futures prices rose 0.85 per cent to Rs 40,222 per kg as speculators built-up fresh positions amid covering-up of short positions on positive cues from the global market.

On the Multi Commodity Exchange, silver prices for delivery in July spurted Rs 339 or 0.85 per cent to Rs 40,222 per kg in a business turnover of five lots.

Similarly, the white metal for delivery in September traded higher by Rs 344 or 0.85 per cent at Rs 40,836 per kg in a turnover of 1,309 lots.

Silver gained 0.49 per cent to trade at $19.48 an ounce in Singapore today.

Market analysts said besides short-covering by speculators, gains in silver prices in the overseas market at lower levels, influenced the futures trade here.