Silver climbs Rs 349 per kg on positive global cues

Silver prices went up by a whopping Rs 349 to Rs 38,704 per kg in futures trading today as participants widened positions, tracking a firm trend in global market.

At the Multi Commodity Exchange, silver for delivery in July was trading notably higher by Rs 349, or 0.91 per cent, to Rs 38,704 per kg, in a business turnover of 1,258 lots.

Similarly, the white metal for delivery in September was up by Rs 343, or 0.88 per cent, to Rs 39,145 per kg in 187 lots.

Analysts said, a firming trend overseas where silver rallied as weakness in the dollar raised demand for the precious metals as a safe-haven, mainly influenced the white metal prices at futures trade.

Globally, silver rose 0.80 per cent to USD 16.79 an ounce in Singapore.

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