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Silver futures up 0.4% on global cues

Metal for delivery in far-month March last year rose by 0.3%

Press Trust of India New Delhi
Last Updated : Oct 29 2013 | 12:46 PM IST
Silver prices rose by 0.42% to Rs 49,770 per kg in futures trade today largely in tune with a firming trend in precious metals overseas amid covering up of short positions by speculators.

At the Multi Commodity Exchange, silver for delivery in December gained Rs 209, or 0.42%, to Rs 49,770 per kg in a business turnover of 541 lots.

Similarly, the white metal for delivery in far-month March last year rose by Rs 166, or 0.33%, to Rs 51,230 per kg, in a business volume of six lots.

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In the international market, silver traded higher at $22.52 an ounce in Singapore.

Market analysts said besides short covering by speculators, a rising trend in the precious metals in the global market after US economic data backed the case for the Federal Reserve to maintain stimulus influenced silver futures here.

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First Published: Oct 29 2013 | 12:45 PM IST

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