Silver surges in futures trade on global cues

Mumbai-India (Feb 15)  Silver prices rose by Rs 657 to Rs 45,579 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 March traded higher by Rs 657, or 1.46 per cent, to Rs 45,579 per kg in a business turnover of 1,426 lots.
    
May silver traded higher by Rs 627, or 1.37 per cent, to Rs 46,427 per kg in 90 lots.
    
Market analysts said fresh positions built up by speculators, buoyed by a firm global trend as US economic data that trailed estimates increased its demand, mainly pushed up silver prices at futures trade.
    
Meanwhile, silver jumped 1.70 per cent to $20.84 per ounce in Singapore.

(Source:  Business-Standard India)