Silver futures rise on higher global trend

Silver futures prices rose by Rs 179 to Rs 44,706 per kg today, as speculators enlarged their positions on the back of firming global trend.

At the Multi Commodity Exchange platform, silver for May delivery rose by Rs 179, or 0.40 per cent, to Rs 44,706 per kg, with a business turnover of just three lots.

Similarly, the metal for delivery March-month gained Rs 95, or 0.21 per cent to Rs 44,344 per kg, with a business volume of four lots.   

Market analysts said beside a firming global trend, pick up in demand in the spot market mainly pushed up silver prices at futures trade.

Meanwhile, silver gained 1.3 per cent to $29.04 an ounce in Asia, the biggest intraday increase since December 31 in Seoul.