Commodities

Silver futures up at Rs 49,770 per kg

PTI New Delhi | Updated on October 29, 2013 Published on October 29, 2013

Silver prices rose 0.42 per cent to Rs 49,770 per kg at the futures trade today largely in tune with a firm trend overseas amid covering-up of short positions by speculators.

On the Multi Commodity Exchange, silver for delivery in December gained Rs 209 or 0.42 per cent to Rs 49,770 per kg in a business turnover of 541 lots.

Similarly, the white metal for delivery in far-month March rose Rs 166 or 0.33 per cent to Rs 51,230 per kg in a business volume of six lots.

In the international market, silver traded higher at $22.52 an ounce in Singapore.

Market analysts said besides short-covering by speculators, a rising trend in the global market after US economic data backed the case for the Federal Reserve to maintain stimulus, influenced silver futures here.

Published on October 29, 2013
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