Silver surges by 0.8% on global cues

Participants built up fresh positions supported by a firm global trend

Press Trust of India New Delhi
Last Updated : Feb 25 2015 | 12:26 PM IST
Silver prices climbed Rs 639 to Rs 36,613 per kg in futures trading today as participants built up fresh positions supported by a firm global trend.

Besides, covering-up of short positions by speculators also supported the upside.

At the Multi Commodity Exchange, silver for delivery in March gained by Rs 639, or 1.78% to Rs 36,613 per kg in business turnover of 2,711 lots.

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Likewise, the white metal for delivery in far-month May contracts traded higher by Rs 544, or 1.49% to Rs 39,968 per kg in 458 lots.

Market analysts said fresh positions built up by speculators buoyed by a firm global trend after the US Federal Reserve hinted imminent rate rise was unlikely, influenced precious metal prices at futures trade.

Meanwhile, silver climbed 2.3% to $16.67 an ounce in Singapore.

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First Published: Feb 25 2015 | 12:00 PM IST

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