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Last Updated : May 02, 2016 11:16 AM IST | Source: PTI

Silver futures advance Rs 59 on firm global cues

In futures trading, silver for delivery in May was up by Rs 598, or 0.14 percent, at Rs 41,625 per kg at the Multi Commodity Exchange, in a business turnover of 58 lots.


Silver prices were up by Rs 59 to trade at Rs 41,625 per kg in futures trading today as participants indulged in enlarging positions amid a firm trend in precious metals overseas.


In futures trading, silver for delivery in May was up by Rs 598, or 0.14 percent, at Rs 41,625 per kg at the Multi Commodity Exchange, in a business turnover of 58 lots.


Likewise, the white metal for delivery in far-month July edged higher by Rs 37, or 0.09 percent, to Rs 42,335 per kg in 90 lots.

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Analysts said widening of positions by speculators in step with a firm trend in global markets as a weaker dollar raised appeal of the precious metals, influenced silver prices at futures trade.


Globally, silver ended 1.65 percent higher at USD 17.82 an ounce in New York on Friday.

Meanwhile, silver's 15 percent surge this month has bettered gold's advance amid optimism that industrial usage will increase as China's economy shows signs of stabilizing.

First Published on May 2, 2016 11:08 am
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