Silver futures rise 0.16% on global cues

Silver futures traded higher by 0.16 per cent to Rs 40,620 per kg Wednesday after speculators raised bets, driven by a firm trend overseas.

Silver for delivery in March traded higher by Rs 63, or 0.16 per cent, to Rs 40,620 per kg in a business turnover of 1,234 lots at the Multi Commodity Exchange.

Besides, the white metal to be delivered in April, rose by Rs 42, or 0.11 per cent, to Rs 36,965 per kg in 13,529 lots.

Analysts said, widening of positions by traders in sync with a firm trend overseas for precious metals, influenced silver prices here.

In the international market, silver traded higher by 0.60 per cent at USD 16.04 an ounce in Singapore.

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