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Silver futures surge 0.29% on global cues

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Silver futures traded higher by 0.29 per cent at Rs 38,563 per kg on Wednesday after speculators raised bets, driven by a firm trend overseas.

Silver for delivery in May traded higher by Rs 111, or 0.29 per cent, at Rs 38,563 per kg in a business turnover of 18,071 lots at the Multi Commodity Exchange.

Similary, the white metal to be delivered in July rose by Rs 108, or 0.28 per cent, to Rs 39,155 per kg in 204 lots.

Analysts said widening of positions by traders in sync with a firm trend on global markets for precious metals influenced silver prices at futures trade here.

In the international market, silver traded higher at USD 15.14 an ounce in Singapore Tuesday.



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