Silver futures up 0.97 per cent on global cues

NEW DELHI, June 16:  Silver prices climbed 0.97 per cent to Rs 42,410 per kg in futures trade today as participants engaged in creating speculative positions on a firming trend in the precious metal overseas.
At the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 408, or 0.97 per cent, to Rs 42,410 per kg in a business turnover of 72 lots.
On similar lines, the metal for delivery in July traded higher by Rs 375, or 0.90 per cent, to Rs 42,250 per kg in a turnover of 689 lots.
In the international market, silver added one per cent to trade at USD 19.88 an ounce in Singapore, the highest level since May 14.
Market analysts attributed the gains in silver prices at futures trade to a firming trend overseas as escalating violence in Iraq boosted demand for the precious metal as a safe-haven. (PTI)


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