NEW DELHI, Oct 29: Silver prices rose by 0.42 per cent to Rs 49,770 per kg in futures trade today largely in tune with a firming trend in precious metals overseas amid covering up of short positions by speculators.
At the Multi Commodity Exchange, silver for delivery in December gained Rs 209, or 0.42 per cent, to Rs 49,770 per kg in a business turnover of 541 lots.
Similarly, the white metal for delivery in far-month March next year rose by Rs 166, or 0.33 per cent, to Rs 51,230 per kg, in a business volume of six lots.
In the international market, silver traded higher at USD 22.52 an ounce in Singapore.
Market analysts said besides short covering by speculators, a rising trend in the precious metals in the global market after US economic data backed the case for the Federal Reserve to maintain stimulus influenced silver futures here. (PTI)
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