Silver futures rise to Rs 50,968 per kg

October 30, 2013

New Delhi-India (Oct 30)   Silver prices rose 0.14 per cent to Rs 50,968 per kg at the futures trade today largely in tune with a rising trend in precious metals overseas amid covering-up of short positions by speculators.

On the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 72 or 0.14 per cent to Rs 50,968 per kg in a business turnover of 9 lots.

Similarly, the white metal for delivery in December traded higher by Rs 44 or 0.11 per cent at Rs 49,489 per kg in a turnover of 481 lots.

In the international market, silver prices were up by 0.13 per cent to trade at $22.55 an ounce in Singapore.

Market analysts said besides short-covering by speculators, a firm trend overseas on expectations that the US Federal Reserve will maintain its aggressive stimulus after a government shutdown hurt the economy, boosted the silver futures here.

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