Thursday 9 May 2019

Silver futures up Rs 92 as speculators create position


Silver prices rose by Rs 92 to Rs 37,494 per kg in futures trade on Thursday after speculators built up fresh positions amid firm trend overseas.

On the Multi Commodity Exchange, silver for July contracts was trading up by Rs 92, or 0.25 per cent, to Rs 37,494 per kg with a business turnover of 22,666 lots.

The metal for delivery in far-month September contracts was also trading higher by Rs 93, or 0.25 per cent, to Rs 38,001 per kg in 553 lots.

Analysts said, the rise in silver prices at futures trade was due to building up of positions by participants tracking a firm trend in overseas market.

Globally, silver was edged up by 0.05 per cent at USD 14.86 an ounce in New York.

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