Silver futures up 0.73% on global cues

February 5, 2014

New Delhi-India (Feb 5)  Silver prices rose 0.73 per cent to Rs 44,840 per kg in futures trade today, largely in tune with a firming trend in precious metals overseas, amid covering-up of short positions by speculators.
At the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 323, or 0.73 per cent, to Rs 44,840 per kg in a business turnover of 22 lots.
March silver traded higher by Rs 302, or 0.69 per cent, at Rs 43,859 per kg in a turnover of 1,684 lots.
In the international market, silver gained 0.40 per cent to trade at $19.56 an ounce in Singapore.
Market analysts said besides short-covering by speculators, a rising trend in the precious metals in the global market, influenced silver prices at futures trade here.

(Source:  Business Standard)

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