Positive global cues lift silver futures by 0.40 per cent

Taking positive cues from overseas markets, silver prices moved up by 0.40 per cent to Rs 38,977 per kg in futures trade today as participants built up fresh positions. At the Multi Commodity Exchange, silver for delivery in May rose by Rs 156, or 0.40 per cent, to Rs 38,977 per ten grams in a business turnover of 1122 lots.

Likewise, the white metal for delivery in July contracts was trading higher by Rs 145, or 0.37 per cent, to Rs 39,452 per kg in 43 lots. Traders attributed the rise in silver prices at futures trade to a firm trend overseas. Globally, silver rose 0.21 per cent to USD 16.59 an ounce in Singapore today.

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