NEW DELHI, May 18: Silver prices went up by Rs 342 to Rs 40,806 per kg in futures trade today after participants built-up speculative positions, largely on covering-up of short positions by speculators.
However, a weak trend in the white metal overseas, capped the gains.
At the Multi Commodity Exchange, silver for delivery in far-month September shot up by Rs 342, or 0.85 per cent, to Rs 40,806 per kg in a business turnover of 12 lots.
Similarly, the white metal for deli1very in July rose by Rs 319, or 0.80 per cent, to Rs 40,270 per kg in 961 lots.
Market analysts attributed the rise in silver prices at futures trade to covering-up of short positions by speculators but metal’s weakness in global market, limited the gains.
Meanwhile, silver lost 0.10 per cent to USD 17.48 an ounce in Singapore. (PTI)
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