Strong global cues boost silver prices in futures trade

Silver prices rose by Rs 114 to Rs 38,367 per kg in futures trade Thursday as speculators created fresh positions amid firm trend overseas. At the Multi Commodity Exchange, silver for delivery in March 2019 traded higher by Rs 114, or 0.3 per cent, to Rs 38, 367 per kg in a business turnover of 18,624 lots. The white metal for delivery in May was trading higher by Rs 118, or 0.3 per cent, to Rs 38,931 per kg in 1,145 lots.

Analysts said building up of positions by speculators in line with a firm trend in global markets for precious metals influenced silver prices in futures trade. Meanwhile, silver was up 0.40 per cent at USD 15.16 an ounce in Singapore Monday.