Silver up 0.4% on firm global cues

Mumbai-India (Dec 30)  Silver prices rose by Rs 169 to Rs 36,653 per kg in futures trading today as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas.

 At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 169, or 0.46%, at Rs 36,653 per kg in business turnover of 432 lots.

 Likewise, the white metal for delivery in May traded higher by Rs 158, or 0.43%, to Rs 37,312 per kg in 9 lots.

 Market analysts said fresh positions built-up by speculators largely in tandem with a firming trend in the precious metals overseas as a retreat in stocks revived demand for an alternative investment, supported the upside in silver prices at futures trade.

 Meanwhile, silver was up 0.70% at USD 15.91 an ounce in Singapore

Source: Business-Standard