February 6, 2017 11:02:33 am
Silver prices surged 0.64 per cent to Rs 42,617 per kg in futures trade Monday largely after speculators enlarged positions, taking positive cues from global market. At the Multi Commodity Exchange, silver for delivery in far-month May was trading notably higher by Rs 269, or 0.64 per cent, to Rs 42,617 per kg, in a business turnover of 52 lots.
Also, the white metal for delivery in March rose by Rs 219, or 0.52 per cent, to Rs 42,016 per kg in 529 lots. In the international market, silver gained 0.29 per cent to USD 17.54 an ounce in Singapore Monday.
Analysts said a firming trend in the global market as the dollar slipped against major currencies after mixed US jobs data late last week lowered expectations for near-term interest rate hikes, raised demand for the precious metals as a safe-have, influenced silver futures here.
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