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Silver prices rose Rs 199 to trade at Rs 40,820 per kg at the futures trade due to a firm trend in global markets.
Silver for delivery in March next year was up by Rs 199 or 0.49 per cent at Rs 40,820 per kg at the Multi Commodity Exchange in a business turnover of 17 lots. The white metal for delivery in December spurted Rs 183 or 0.46 per cent to Rs 40,245 per kg in 945 lots.
Analysts said widening of positions by speculators in step with a firm trend in precious metals overseas influenced silver prices at the futures trade. Besides, weakening of dollar as investors await the US Federal Reserve’s interest-rate decision later today, fuelled the uptrend.
Silver rose 0.61 per cent to $17.27 an ounce in New York yesterday.
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