Silver futures climb Rs 561 on global cues

Silver prices spurted by Rs 561 to Rs 37,460 per kg in futures trade today as speculators built up positions amid a higher global trend.
In futures trading at the Multi Commodity Exchange, silver for delivery in May was trading notably higher by Rs 561, or 1.52 per cent, to Rs 37,460 per kg in a business turnover of 1,447 lots.
Also, the white metal for delivery in far-month July was up by Rs 567, or 1.52 per cent, to Rs 37,874 per kg in 17 lots.
Analysts said speculators created fresh positions in tune with higher global trend after the US Federal Reserve

Held rates and scaled back its projection for interest-rate hikes this year, weakening the dollar and raising appeal of the precious metals, influenced silver futures prices here.
Meanwhile, silver rose 2.26 per cent to USD 15.60 an ounce in New York yesterday.