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Silver prices rose sharply by 1.28% to Rs 39,365 per kg in futures trading today as speculators created fresh positions amid a firming trend in the precious metal overseas.
At the Multi Commodity Exchange, silver for delivery in March 2015 was up by Rs 497, or 1.28%, at Rs 39,365 per kg in a business turnover of 18 lots.
Likewise, the white metal for delivery in December traded higher by Rs 383, or 1.18%, to Rs 38,670 per kg in 1,476 lots.
Market analysts said fresh positions built-up by speculators largely in tandem with a firming trend in the precious metal overseas as Federal Reserve expressed concern that the US economy may be at risk from a global slowdown, weakening the dollar and boosting demand for safe-haven, influenced silver prices at futures trade.
Meanwhile, extending yesterday's rise, silver was up 0.40% at $17.45 an ounce in Singapore.
