Silver prices moved up by Rs 306 to Rs 61,186 per kg at the futures trade today as speculators enlarged their positions, taking positive cues from overseas markets.

At the Multi Commodity Exchange, silver for delivery in December shot up by Rs 306 or 0.5 per cent to Rs 61,186 per kg with a business turnover of 885 lots.

Similarly, the white metal for delivery in the March contract traded higher by Rs 288 or 0.46 per cent to Rs 63,052 per kg in 62 lots.

Market analysts said increased buying by speculators on the back of a firming global trend, as a weak dollar raised demand for the bullion as an alternative investment, mainly pushed up silver futures.

Meanwhile, the white metal rose as much as 1.1 per cent to $32.66 an ounce in Singapore.

(This article was published on November 19, 2012)
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