Silver futures gain on firm global cues

Silver prices rose by Rs 238 to Rs 39,365 per kg in futures trade Thursday as speculators raised their bets amid firm trend overseas.

At the Multi Commodity Exchange, silver for March was trading higher by Rs 238, or 0.61 per cent, to Rs 39,365 per kg in a business turnover of 18,717 lots.

In a similar fashion, silver for far-month May rose by Rs 147, or 0.37 per cent, to Rs 39,785 per kg with a business turnover of 1,693 lots.

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Market analysts said fresh positions built up by speculators in line with a firm trend in global markets for precious metals, supported the upside in silver prices.

In the International market, silver was trading higher by 0.31 per cent at USD 15.59 an ounce in Singapore.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)