New Delhi: Silver prices rose sharply by 1.28 per cent to Rs 39,365 per kg in futures trading on October 9 as speculators created fresh positions amid a firming trend in the precious metal overseas.
At the Multi Commodity Exchange, silver for delivery in March 2015 was up by Rs 497, or 1.28 per cent, at Rs 39,365 per kg in a business turnover of 18 lots. Likewise, the white metal for delivery in December traded higher by Rs 383, or 1.18 per cent, to Rs 38,670 per kg in 1,476 lots.
Market analysts said fresh positions built-up by speculators largely in tandem with a firming trend in the precious metal overseas as Federal Reserve expressed concern that the US economy may be at risk from a global slowdown, weakening the dollar and boosting demand for safe-haven, influenced silver prices at futures trade. Meanwhile, extending on 8 October’s rise, silver was up 0.40 per cent at USD 17.45 an ounce in Singapore.
