Silver futures up at Rs 38,700 per kg

New Delhi-India (Mar 28)  Silver prices were up by Rs 36 at Rs 38,700 per kg at the futures trade as speculators widened their bets despite a weak trend in global market.

At the Multi Commodity Exchange, silver for delivery in May was up by Rs 36 or 0.09 per cent at Rs 38,700 per kg in a business turnover of 420 lots. The white metal for delivery in far-month July was trading higher by Rs 32 or 0.08 per cent at Rs 39,225 per kg in 10 lots.

Market analysts said speculative position created by participants, mainly influenced silver futures prices, but a weak trend in global market capped the gains. Meanwhile, silver rose 0.06 per cent to $16.50 an ounce in Singapore.

BusinessLine