Online BusinessSilver futures trade higher on firm global cues
Silver futures prices today rose up to 2.92 per cent on the Multi Commodity Exchange as traders engaged in creating fresh positions, tracking firming global trend.
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Silver for delivery in May climbed 2.92 per cent to Rs 27,829 per kg with business turnover in 2 lots.
March Silver also traded 0.77 per cent higher at Rs 27,670 per kg in business volume in 122 lots, while the December contract moved up by 0.84 per cent to Rs 27,501 per kg, in a turnover in 3,180 lots.
Market analysts attributed rise in silver prices at to overnight rise of 2.3 per cent in its prices to $17 an ounce as investors bought precious metals to protect their investments after US currency fell against a basket of six major currencies.
They said surge of 0.7 per cent in gold prices also supported rise in silver prices.