Silver futures gain 0.4% on spot demand, global cues

Metal for delivery in December traded higher by 0.29%

Silver prices gained 0.41% to Rs 50,156 per kg in futures trading today as speculators enlarged positions, driven by a rise in demand in the spot market amid a firm global trend.

At the Multi Commodity Exchange, silver for delivery in far-month March gained Rs 203, or 0.41%, to Rs 50,156 per kg in business turnover of 54 lots.

Similarly, silver for delivery in December traded higher by Rs 142, or 0.29%, to Rs 48,582 per kg in 1,737 lots.

Market analysts said fresh positions built up by speculators on the back a rise in demand in the spot market amid a firm global trend mainly led to rise in silver prices at futures trade.

Meanwhile, silver rose by 0.1% to $21.68 an ounce in Singapore.