Silver futures rebound on bargain buying

Dec 21 2012, 12:26 IST
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SummarySilver prices went up by 0.54 per cent to Rs 57,657 per kg in futures trade.

Silver prices went up by 0.54 per cent to Rs 57,657 per kg in futures trade today as speculators enlarged their positions on prevailing levels after yesterday's steep fall.

At the Multi Commodity Exchange, silver prices for delivery in May were up by Rs 316, or 0.54 per cent, to Rs 58,976 per kg in business turnover of 152 lots.

Similarly, the white metal price for delivery in May traded higher by Rs 306, or 0.53 per cent, to Rs 57,657 per kg in 3,371 lots.

Analysts said speculative positions created by participants at prevailing attractive levels after yesterday's steep fall, mainly attributed recovery in silver prices at futures trade but a weak trend overseas, limited the gains.

Globally, silver fell as much as 1.1 per cent to USD 29.64 an ounce, the lowest level since August 22 in Singapore.

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