New Delhi: Taking positive cues from the global market, silver prices rose by Rs 57 to Rs 34,651 per kg in futures trade today as traders created speculative positions.
At the Multi Commodity Exchange, silver for delivery in far-month May traded higher by Rs 57, or 0.16 per cent, to Rs 34,651 per kg in a business turnover of 14 lots. Also, the white metal for delivery in March rose by Rs 33, or 0.10 per cent, to Rs 34,204 per kg in 1,102 lots.
In the international market, silver gained 2.8 per cent to USD 14.16 an ounce in New York yesterday. Market analysts said a firming trend in the global market as equity-market losses and sinking commodity prices spurred demand for safe-haven assets while boosting speculation that the Federal Reserve may slow the pace of increases in US interest rates, influenced silver futures here.
