Silver moves up in futures trade on global cues

Mumbai-India (May 20)  Silver prices rose by Rs 103 to Rs 40,969 per kg in futures trading today as participants built up fresh positions buoyed by a firm global trend.

At the Multi Commodity Exchange, silver for delivery in July gained by Rs 103, or 0.25 per cent to Rs 40,969 per kg in business turnover of 602 lots.

September silver traded higher by Rs 72, or 0.17 per cent to Rs 41,643 per kg in 20 lots.

Market analysts said fresh positions built up by speculators buoyed by a firm global trend, influenced precious metal prices at futures trade.

Meanwhile, silver rose by 0.10 per cent to $19.38 an ounce in Singapore.