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Buoyed by a firm trend in precious metals overseas, silver prices jumped by Rs 521 to Rs 36,799 per kg at the futures trading today as speculators indulged in enlarging their positions.
On the Multi Commodity Exchange, silver for delivery in March rose Rs 521 or 1.44 per cent to Rs 36,799 per kg in a business turnover of 1,533 lots.
Also, the white metal for delivery in May was trading higher by Rs 517 or 1.41 per cent at Rs 37,070 per kg with a business turnover of 162 lots.
Analysts said a firm trend in bullion prices in overseas markets after minutes from the Federal Reserve’s January meeting signalled many officials were inclined to keep the interest rates near record lows for longer, mainly influenced silver prices at the futures trade here.
Meanwhile, silver climbed 1.3 per cent to $16.72 an ounce in Singapore.
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