 "Silver futures gain Rs 716 on global cues")
Silver futures jumped by Rs 716 to Rs 36,028 per kg on Thursday as speculators built fresh positions amid covering-up of short positions amid a rebound in precious metals overseas.
At the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 716, or 2.03 per cent, to Rs 36,028 per kg in a business turnover of 2,010 lots.
On similar lines, the white metal for delivery in July traded higher by Rs 653, or 1.82 per cent, at Rs 36,466 per kg in a turnover of 17 lots.
Market analysts said besides covering up of short positions by speculators, a firming trend in precious metals in the global market after the Federal Reserve indicated that interest rates may rise at a slower pace than estimated, raised demand for the precious metals.
At the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 716, or 2.03 per cent, to Rs 36,028 per kg in a business turnover of 2,010 lots.
On similar lines, the white metal for delivery in July traded higher by Rs 653, or 1.82 per cent, at Rs 36,466 per kg in a turnover of 17 lots.
More From This Section
In the international market, silver traded higher by 0.3 per cent at $16.00 an ounce in Singapore.
Market analysts said besides covering up of short positions by speculators, a firming trend in precious metals in the global market after the Federal Reserve indicated that interest rates may rise at a slower pace than estimated, raised demand for the precious metals.