NEW DELHI, Jan 29: Silver prices moved up by Rs 233 to Rs 58,001 per kg in futures trade today after speculators enlarged their positions, largely driven by a firming trend overseas.
At the Multi Commodity Exchange, silver for delivery in March shot up by Rs 233, or 0.41 per cent, to Rs 58,001 per kg in business turnover of 468 lots.
Similarly, the white metal for delivery in May traded higher by Rs 219, or 0.37 per cent, to Rs 59,378 per kg in 43 lots.
Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets ahead of the US Federal Reserve a two-day policy meeting, beginning later today that will probably press on with stimulus to bolster the world’s largest recovery.
Meanwhile, silver rose as much as 0.40 per cent to USD 31.00 an ounce in Singapore after tumbling 4.3 per cent in the past three days. (PTI)
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