Silver rates move up in futures trade on global cues

Aug 26 2014, 13:01 IST
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The white metal gained by Rs 178 at Rs 42,099. (PTI photo) The white metal gained by Rs 178 at Rs 42,099. (PTI photo)
SummaryMarket analysts said fresh positions built up by speculators buoyed by a firm global trend.

Silver prices were up by Rs 178 at Rs 42,099 per kg in futures trading today as participants built up fresh positions buoyed by a firm global trend.

At the Multi Commodity Exchange, silver for delivery in September gained by Rs 178 or 0.42 per cent to Rs 42,099 per kg in business turnover of 565 lots.

Likewise, the white metal for delivery in far-month December contracts traded higher by Rs 175 or 0.41 per cent to Rs 42,851 per kg in 53 lots.

Market analysts said fresh positions built up by speculators buoyed by a firm global trend, influenced precious metal prices at futures trade.

Meanwhile, silver rose by 0.59 per cent to USD 19.46 an ounce in Singapore.

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