Silver up 0.3% on higher overseas trend

Metal for delivery in July edged up by 0.16%

Silver prices moved up by 0.33% to Rs 42,827 per kg in futures trade today as speculators created fresh positions, tracking a firm global trend.

At the Multi Commodity Exchange, silver for delivery in September rose by Rs 142, or 0.33% to Rs 42,827 per kg in business turnover of 142 lots.

Likewise, the white metal for delivery in July edged up by Rs 68, or 0.16% to Rs 42,466 per kg in 1798 lots.

Analysts said fresh positions built-up by speculators in tandem with a firm trend overseas after the US Federal Reserve said interest rates will remain low, boosting demand for bullion as an alternative investment.

Meanwhile, silver rose 0.3% to USD 19.95 an ounce, the highest since May 14 in Singapore.