Precious Metals: Silver futures jump Rs 803 to Rs 38,715 per kg

New Delhi: Silver prices on Tuesday jumped Rs 803 to Rs 38,715 per kg in futures trade as participants widened their bets amid a firm trend in precious metal overseas.

On the Multi Commodity Exchange, silver contracts for May delivery gained Rs 803, or 2.12 per cent, to Rs 38,715 per kg in 5,580 lots.

Similarly, the white metal for delivery in July was trading higher by Rs 918, or 2.4 per cent, to Rs 39,240 per kg in 148 lots.


Traders said fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures.

In the international market, silver was quoting 2.33 per cent higher at $13.57 an ounce in New York.

Gold
Gold futures on Tuesday fell by 0.93 per cent to Rs 40,779 per 10 gram as participants trimmed their positions even as the metal gained overseas.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 384, or 0.93 per cent, to Rs 40,779 per 10 gram in a business turnover of 2,529 lots.

The yellow metal for June delivery declined by Rs 296, or 0.71 per cent, to Rs 41,361 per 10 gram in 1,196 lots.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas.

Globally, gold was trading 1.41 per cent higher at $1,594.80 per ounce in New York.