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Silver prices rose further by 1.26 per cent to Rs 38,635 per kg at the futures trade as speculators engaged in building up positions, owing to a firm trend overseas.
At the Multi Commodity Exchange, silver for delivery in March rose Rs 126 or 0.33 per cent to Rs 38,635 per kg in a business turnover of 433 lots. The white metal for delivery in May gained Rs 121 or 0.31 per cent to Rs 39,149 per kg in 21 lots.
Market analysts said widening of positions by traders largely in line with a firm global trend mainly kept silver prices higher at the futures trade. Silver rose 0.33 per cent to $16.88 an ounce in Singapore.
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