Silver futures gain 0.42% aided by global cues

Silver prices moved up by 0.42 per cent to Rs 37,979 per kg in futures market today as speculators built up fresh positions in tandem with a firm trend overseas.

At the Multi Commodity Exchange, silver for delivery in far-month December rose by Rs 158, or 0.42 per cent, to Rs 37,979 per kg, in a business turnover of 67 lots.

Also, the white metal for delivery in September was trading higher by Rs 149, or 0.40 per cent, to Rs 37,420 per kg in 8,170 lots.

Globally, silver rose 0.74 per cent to USD 16.38 an ounce in New York.

Market analysts said fresh positions created by traders in line with a firming trend in the precious metals in global market, mainly attributed the rise in silver prices at futures trade.

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