Silver futures climb to Rs. 39,145 per kg

Mumbai-India (Nov 6)  Tracking a firm trend in precious metals overseas, silver prices soared Rs. 97 to Rs. 39,145 per kg at the futures trade today as speculators widened their positions.

At the Multi Commodity Exchange, silver for delivery in December surged Rs. 97 or 0.25 per cent to Rs. 39,145 per kg in a business turnover of 159 lots. The white metal for delivery in far-month March 2018 was trading higher by Rs. 84 or 0.21 per cent to Rs. 39,780 per kg in 7 lots.

Market analysts said speculative positions built up by participants, driven by a firm global trend as weakness in dollar raised the appeal for precious metals as a safe haven, mainly attributed to the rise in silver prices at the futures trade here.

Meanwhile, silver surged 0.18 per cent to $16.83 an ounce in Singapore.