Silver futures surge Rs 179 per kg on global cues

TIL Desk/ Business/New Delhi- Silver prices were higher up by Rs 179 to Rs 42,215 per kg in futures trade today after participants raised their bets amid firming global trends.

At the Multi Commodity Exchange, silver for delivery in far-month March next year was trading notably higher by Rs 179 or 0.43 per cent to Rs 42,215 per kg in a business turnover of five lots. Similarly, the white metal for delivery in December traded higher by Rs 163 or 0.39 per cent to Rs 41,570 per kg in a business volume of 243 lots.

Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas as dollar fell for the first time since last week s US presidential election, boosting demand for the precious metals as a safe haven. Globally, silver rose 0.47 per cent higher at USD 17.14 an ounce in Singapore.