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This is an archive article published on April 18, 2012

Silver futures up on global cues

Silver moved up by 0.36% to Rs 56,215 per kg in futures trading today.

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Tracking a firming trend in global markets,silver moved up by 0.36 per cent to Rs 56,215 per kg in futures trading today.

At the Multi Commodity Exchange,silver for delivery in May rose by Rs 199,or 0.36 per cent,to Rs 56,215 per kg,with a business turnover of 1,326 lots.

Likewise,the metal for delivery in July traded higher by Rs 175,or 0.30 per cent,to Rs 57,882 per kg,with a trade volume of 37 lots.

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Globally,silver rose 0.2 per cent to USD 31.74 an ounce in early trading in Singapore.

Market analysts said reports of a firming trend overseas after the International Monetary Fund raised its global economic growth forecast,boosting the demand outlook for commodities,supported the upside in silver futures here.

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