Silver futures jump to Rs 44,936 per kg

November 27, 2013
New Delhi-India (Nov 26)  Silver prices rose 0.98 per cent to Rs 44,936 per kg at the futures trade today largely in tune with a recovery trend in precious metals overseas amid covering-up of pending short positions by speculators.

On the Multi Commodity Exchange, silver for delivery in December traded higher by Rs 436 or 0.98 per cent to Rs 44,936 per kg in a business turnover of 987 lots.

Similarly, the white metal for delivery in far-month March contracts traded higher by Rs 431 or 0.94 per cent at Rs 46,350 per kg in a turnover of 77 lots.

In the international market, silver rebounded to $20.11 an ounce in Singapore from yesterday’s $19.59, the lowest since August 8.

Market analysts said besides short-covering by speculators, a recovery in precious metals in the global market as the dollar weakened and lower prices spurred demand in China, the second-largest consumer, influenced silver prices at the futures trade here.

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