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Silver prices went up by Rs 299 to trade at Rs 39,895 per kg at the futures trade today as participants indulged in enlarging positions amid a firm trend in precious metals overseas.
Silver for delivery in December was sharply up by Rs 299 or 0.76 per cent at Rs 39,895 per kg at the Multi Commodity Exchange in a business turnover of 805 lots. Likewise, the white metal for delivery in March next year spurted Rs 276 or 0.69 per cent to Rs 40,489 per kg in six lots.
Analysts said widening of positions by speculators in step with a firm trend in the precious metals overseas influenced silver prices at the futures trade. Besides, dollar’s weakness fuelled the uptrend.
Meanwhile, silver was up 0.68 per cent at $16.93 an ounce in Singapore today.
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