Silver futures rises 1.95% on global trend

Buoyed by a firm trend in global markets, silver futures prices recovered sharply by 1.95 per cent to Rs 39,762 per kg today.

At the Multi Commodity Exchange counter, silver for delivery in the December contract climbed Rs 756, or 1.95 per cent to Rs 39,832 per kg, clocking a turnover of 4,817 lots.

The silver for delivery in March contract also shot up by Rs 745, or 1.93 per cent to Rs 40,023 per kg, with a turnover of 548 lots.
    
Globally, silver in the Asian region, gained 0.58 cents, to trade at $26.23 an ounce.
    
Analysts said firm trend in precious metals in global markets after weakening dollar raised the appeal for the precious metals as an alternative investment, influenced silver futures prices here.