 "Silver futures recover 0.4% on global cues")
Tracking a firming trend in precious metals overseas, silver futures prices today recovered by 0.13% to Rs 49,897 per kg as speculators built up fresh positions.
At the Multi Commodity Exchange, Silver for delivery in December traded higher by Rs 65 or 0.13%, to Rs 49,897 per kg in business turnover of 777 lots.
On similar lines, silver for delivery in far-month March traded up by Rs 60, or 0.12%, to trade at Rs 50,977 per kg in a turnover of six lots.
Market analysts said gains in both the precious metals in the global market on speculation that policy makers will be less inclined to curb stimulus after former Treasury Secretary Lawrence Summers withdrew his bid to head the Federal Reserve, helped silver to trade higher at futures trade here.
The Federal Reserve begins a two-day policy meeting today at which it is forecast to reduce the pace of its US bond buying.
At the Multi Commodity Exchange, Silver for delivery in December traded higher by Rs 65 or 0.13%, to Rs 49,897 per kg in business turnover of 777 lots.
On similar lines, silver for delivery in far-month March traded up by Rs 60, or 0.12%, to trade at Rs 50,977 per kg in a turnover of six lots.
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In the international market, silver climbed 0.50%, to trade at $21.92 an ounce in Singapore today.
Market analysts said gains in both the precious metals in the global market on speculation that policy makers will be less inclined to curb stimulus after former Treasury Secretary Lawrence Summers withdrew his bid to head the Federal Reserve, helped silver to trade higher at futures trade here.
The Federal Reserve begins a two-day policy meeting today at which it is forecast to reduce the pace of its US bond buying.