Silver futures regain 44K per kg level on US elections

Silver regained Rs 44,000 per kg level with prices soaring by Rs 818 to Rs 44,721 per kg in futures trade today as speculators indulged in creating huge positions amid a positive global trend.
At the Multi Commodity Exchange, silver for delivery in far-month March shot up by Rs 818 or 1.86 per cent to Rs 44,721 per kg in a business turnover of 47 lots.
Similarly, the white metal for delivery in December was trading higher by Rs 741 or 1.71 per cent to Rs 44,050 per kg in 1,244 lots.
Analysts said speculative position created by participants, tracking a rally in global markets as investors shifted their focus on safe haven assets as initial results from the US election show Republican Donald Trump was on course to win the presidency, led to the uptrend.

Meanwhile, silver climbed 2.94 per cent to USD 18.89 an ounce in Singapore.