NEW DELHI, July 22: Tracking a rising trend precious metals in global markets, silver futures prices today rose sharply by 1.61 per cent to Rs 41,004 per kg as speculators built up fresh positions amid covering-up of short positions.
At the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 650, or 1.61 per cent, to Rs 41,004 per kg in business turnover of 3,729 lots.
On the similar lines, the white metal for delivery in far-month December traded Rs 600, or 1.46 per cent, higher at Rs 41,800 per kg in a turnover of 101 lots.
In the international market, silver advanced 2.1 per cent, to trade at USD 19.93 an ounce in Singapore.
Market analysts said besides covering up of short positions by speculators, a firming trend in the precious metals in the global market as expectations that the US Federal Reserve will sustain stimulus amid a weak dollar overseas. (PTI)
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