Silver futures up 0.38% on Akshaya Tritiya, global cues

Supported by a firm trend at the physical markets on 'Akshaya Tritiya' buying by participants, silver prices rose by 0.38 per cent to Rs 39,820 per kg in futures trade today.

Besides, a positive global cues too influenced silver prices.

At the Multi Commodity Exchange, silver for delivery in May moved up by Rs 150, or 0.38 per cent to Rs 39,820 per kg in a business turnover of 1,568 lots.

Similarly, the metal for delivery in far-month July contracts gained Rs 119, or 0.30 per cent to Rs 40,268 per kg in 1,263 lots.

Analysts said apart from a firming global trend, token purchases by retailers and jewellers at spot markets on account of Akshaya Tritiya, considered to be the most auspicious day for buying the precious metals, led to the rise in silver prices at futures trade.
 

Meanwhile, silver rose 0.32 per cent to USD 17.29 an ounce in Singapore.