Silver futures up Rs 104/kg as speculators create position

Silver prices rose by Rs 104 to Rs 36,833 per kg in futures trade today after speculators built up positions even as metal weakened overseas.
At the Multi Commodity Exchange, silver for delivery in March rose by Rs 104, or 0.28 per cent, to Rs 36,833 per kg in a business turnover of 221 lots.
The metal for delivery in May was also trading higher by Rs 32, or 0.09 per cent, at Rs 37,333 per kg in 4 lots.
Analysts said the rise in silver prices at futures trade was due to building up of positions by participants. The global markets also displayed a weak trend with investors remaining in 'wait-and-see' mode ahead of the outcome of a two-day meeting of the US Federal Reserve.