Silver futures up 0.31% on global cues

Taking positive cues from overseas markets, silver prices traded higher by 0.31 per cent to Rs 38,530 per kg in futures trade today as participants built up fresh positions.
At the Multi Commodity Exchange, silver for delivery in May month rose by Rs 120, or 0.31 per cent to Rs 38,530 per kg in a business turnover of 10 lots.
Likewise, the white metal for delivery in March contracts gained Rs 96, or 0.25 per cent to Rs 38,050 per kg in 856 lots.
Analysts said fresh positions created by participants in line with a firm global trend, mainly influenced silver prices at futures trade.

Globally, silver rose 0.12 per cent to USD 16.39 an ounce in Singapore.