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Silver futures rose by 0.14% on global cues

Prices of Silver rose by 0.14% to Rs 50,968 per kg in futures trade today largely in keeping with an increasing trend in overseas precious metals in the middle of covering up of short positions speculators.

At the Multi Commodity Exchange, Silver for March delivery traded next year high by 72 rupees, or 0.14 percent at 50,968 rupees per kg in revenues of 9 lots.

The same way, Silver for December delivery the negotiated contracts R 44, or 0.11 percent, higher at Rs 49,489 per kg in a volume of 481 lots.  In the international market, silver rose 0.13 percent, to trade at $ 22.55 an ounce in Singapore.

Market observers said that in addition to short covering by profiteers, a firming trend in foreign in expectations that the U.S. Federal Reserve maintain its aggressive drive after a government shutdown damage the economy.

 

Source : http://economictimes.indiatimes.com/markets/commodities/silver-futures-up-0-13-pc-on-global-cues-short-covering/articleshow/24924868.cms

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