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Silver futures gain 0.17% on overseas trend

 

Silver prices rose by 0.17 percent to Rs 37,970 per kg in futures market on March 19 as speculators raised their bets, driven by a firm trend overseas.

At the Multi Commodity Exchange, silver for delivery in far-month May went up by Rs 63, or 0.17 percent to Rs 37,970 per kg in business turnover of 859 lots.

Likewise, the white metal for delivery in April was trading higher by Rs 56 or 0.15 percent to Rs 37,998 per kg in 1,435 lots.

Analysts said building up of positions by participants amid firming trend overseas as a softer dollar that weakened to two-week lows, raised demand for the precious metals as a safe haven, mainly led to rise in silver prices at futures trade.

Meanwhile, silver rose 0.29 percent to $15.47 an ounce in New York on March 19.




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