Silver futures gain on firm global cues

NEW DELHI: Silver prices rose by Rs 158 to reach Rs 37,267 per kg in futures trading today as speculators created fresh positions amid firm trend in precious metals overseas.

At the Multi Commodity Exchange, silver for delivery in far-month July traded higher by Rs 158, or 0.43 per cent, at Rs 37,267 per kg in a business turnover of seven lots.

Likewise, the white metal for delivery in May traded higher by Rs 136, or 0.37 per cent, to Rs 36,807 per kg in 399 lots.

Market analysts said fresh positions built by speculators in line with a firm trend global markets as economic-growth concerns boosted the precious metals' appeal as a haven asset, influenced silver prices at futures trade.

Meanwhile, silver added 0.68 per cent at USD 15.47 an ounce in Singapore today.