Silver up 0.5% in futures trade

Mumbai-India (July 29)  Silver prices recovered by 0.46% to Rs 44,483 per kg in futures trading today as speculators enlarged positions even as the metal weakened in global markets.

 At the Multi Commodity Exchange, silver for delivery in September rose by Rs 202, or 0.46%, to Rs 44,483 per kg in business turnover of 541 lots.

 Likewise, the white metal for delivery in far-month December traded higher by Rs 141, or 0.29%, to Rs 45,200 per kg in 7 lots.

 Analysts said speculative positions built up by participants helped silver futures trade to trade higher but a weak trend in bullion limited the gains.

 Meanwhile, silver traded 0.50% lower at USD 20.63 an ounce in Singapore.

Source:  Busines-Standard