Silver futures surge Rs328 per kg on global cues

New Delhi-India (May 29)  Silver prices were up sharply by Rs328 to Rs 40,130 per kg in futures trade on Monday after participants raised their bets amid firming global trends.

At the Multi Commodity Exchange, silver for delivery in July was trading notably higher by Rs328 or 0.82% to Rs40,130 per kg in a business turnover of 14,560 lots. Similarly, the white metal for delivery in far-month September traded higher by Rs323 or 0.80% to Rs40,597 per kg in a business volume of 310 lots.

Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas.

Globally, silver zoomed 1.14% to close at $17.31 an ounce in New York on Friday.

Source: LiveMint