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Silver prices moved up by Rs 176 to Rs 38,764 per kg in futures trade today as participants enlarged positions amid a firming trend in the precious metals overseas.
At the Multi Commodity Exchange, silver for delivery in far-month July moved up by Rs 176, or 0.46%, to Rs 38,764 per kg in a business turnover of nine lots.
On similar lines, the white metal for delivery in May rose by Rs 145, or 0.38%, to Rs 38,303 per kg in 306 lots.
Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as Saudi Arabia and its allies started bombing targets in Yemen, boosting safe-haven demand.
Silver rose as much as 0.2% to $17.01 an ounce in Singapore.
