Silver futures up by Rs 318 per kg on firm global cues

Silver prices rose by Rs 318 at Rs 38,245 per kg in futures trade Friday as speculators created fresh positions amid firm trend overseas. At the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 318, or 0.84 per cent, at Rs 38,245 per kg in a business turnover of 20,247 lots.

Likewise, the white metal for delivery in July was trading higher by Rs 317, or 0.82 per cent, at Rs 38,792 per kg in 455 lots.

Analysts said building up of positions by speculators in line with a firm trend in global markets for precious metals mainly influenced silver prices here.

Meanwhile, silver was up 1.78 per cent at USD 15.37 an ounce in Singapore.